Pork producers hit new financiallow.

Pork producers hit new financial low--The year 2007 may be the worst financial year for pork producers since 1998, according to Chris Hurt, Purdue University Extension marketing specialist. The number one culprit is high feed costs and the second is too many hogs. While 2008 live hog prices are

expected to average $46.30 for the year, costs of production are estimated at $55.60 based on futures prices for com and soybean meal on Jan. 4, 2008 and adjusted to cash purchase levels. "These estimates suggest a loss of nearly $25 per head on average for the year. The largest losses are expected in the first quarter of the year, when they could reach $36 per head, and then be around $20 per head for the rest of the year," Hurt said.