In keeping with the world’s newfound obsession with gold, as well as the corollary obsession with pricing everything in gold (the S&P, euros, etc.), we though we’d take a look at lean hogs. That’s right pigs. Pork.
See at first blush, it looks like lean hog prices are at a multi-year high.
But! Check out this 10-year chart of lean hogs when priced in gold.
Click to enlarge
It’s trading near all-time lows. It’s obvious investors have COMPLETELY lost confidence in hogs, the proof being their price in the ONE TRUE CURRENCY.
(Thanks to @taste_arbitrage for the chart)