from Dan Norcini:
Not that long ago I sent up a post about the Quarterly Hogs and Pigs Report issued by the folks over at the USDA. I took issue with some of that data as it conflicted with their own weekly slaughter data. Whether that is here or there no longer matters in terms of the futures market reaction because ultimately, the markets always have the last word on these things.
I have to always laugh at the commentary coming out of gold community when the breathless remarks about flash crashes makes the rounds as if somehow such things are unique to only the gold market. Those who regularly trade the ag markets can vouchsafe for the sharp increases in volatility and extreme intraday swings in price that now, sadly, seem to be the new normal.
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