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Hog futures rise
April 24th, 2013
Hog futures prices advanced the most in a week on signs of increasing demand for U.S. pork as temperatures rise and consumers buy more meat for grilling. Cattle also gained.
Wholesale pork prices increased 1.1 percent to 86.41 cents a pound yesterday, the highest since Feb. 1, government data show. The northwestern half of the Midwest has been at least 5 degrees below normal this month, and temperatures should rise to closer to normal for the next 6 to 15 days, according to Commodity Weather Group LLC in Bethesda, Maryland. More consumers tend to grill outdoors in warmer weather, boosting meat demand.
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March 6th, 2013
Hog futures dropped to a four-month low on speculation that U.S. meat processors will slow animal purchases after an increase in slaughter rates eroded pork prices. Cattle also declined.
A wholesale hog carcass weighing 200 pounds (91 kilograms) plunged 2.2 percent yesterday to 79.89 cents a pound, the biggest drop in three weeks and the lowest since Sept. 26, government data show. Meatpackers slaughtered 854,000 hogs in the first two days of this week, up 1.5 percent from a year earlier, according to the U.S. Department of Agriculture.
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January 23rd, 2013
Hog prices fell the most in two weeks on signs of increasing U.S. supplies of pork. Cattle futures also slid.
Warehouses held 554.4 million pounds (about 251,000 metric tons) of pork at the end of December, up 14 percent from a year earlier, the U.S. Department of Agriculture said yesterday in a report released after the close of trading. Chicken-meat inventories were 7.9 percent larger than a year earlier, and beef supplies rose 1.8 percent, USDA data show.
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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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