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July 2nd, 2012
Hog futures prices rose to the highest in almost a year on signs that hot weather in the U.S. will curb livestock weights and deter producers from slaughtering animals, reducing pork supplies. Cattle fell.
Temperatures will be at least 5 degrees above normal from Colorado to Massachusetts for the rest of the week and possibly higher in the Midwest, Commodity Weather Group LLC said in a report. On June 28, the average hog carcass weighed 204.03 pounds (92.5 kilograms), down 2.1 pounds from a week earlier, government data show. Livestock use more energy to stay cool during hot weather, reducing weight.
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June 22nd, 2012
Hog futures dropped for a fourth straight day, the longest slump in a month, on signs of ample supplies of U.S. pork. Cattle prices were little changed.
Commercial-pork production last month totaled 1.93 billion pounds (873,982 metric tons), up 9.5 percent from May 2011, the U.S. Department of Agriculture said today. Output in the five months through May 31 was up 3.9 percent from the same period a year earlier, government data show. The USDA will report cold- storage inventories for May at 3 p.m. in Washington.
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