lean hog futures

lean hog futures

February 2, 2015

In the U.S., the country that made the hamburger a global icon of American fast-food cuisine, beef is about to fall another spot on the meat scale.

For the past two decades, chicken has outranked beef as the most produced meat, and now pork is about to surpass it as well. Hog herds have rebounded from a deadly virus last year, while record-high meat prices and cheaper feed led to breeding of more sows and bigger pigs. As pork output in 2015 jumps 4.6 percent to a record, cattle ranchers have yet to recover from a 2012 drought, and beef production is headed for a 22-year low, the U.S. Department of Agriculture estimates.

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Lean hog futures

Hog futures gain

June 17th, 2013

Hog futures rallied for the first time in three sessions on speculation that warmer weather will boost demand for U.S. pork as more consumers grill outdoors. Cattle prices were little changed.

Wholesale pork added 3.3 percent to $1.0432 a pound on June 14, the highest since Aug. 22, 2011, U.S. Department of Agriculture data show. Prices added 8.1 percent last week, the most in a year, USDA data show. Rains will be limited in the Midwest early this week and temperatures will be at or above normal for the next two weeks, according to an e-mailed report from Commodity Weather Group LLC in Bethesda, Maryland.

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Hogs Rally to Highest Since July

On May 30, 2013, in Hog futures trading news report, by Infinity Trading
lean hog futures

Hog futures rally

May 30th, 2013

Hog futures rose to the highest since July on speculation that U.S. pork exports to China, the world’s biggest consumer, will gain as Shuanghui International Holdings Ltd. takes over Smithfield Foods Inc. Cattle fell.

Closely held Shuanghui announced yesterday that it agreed to acquire the Smithfield, Virginia-based U.S. producer for about $4.72 billion. Shipments to Asian country this year would total 326 million pounds (148,000 metric tons) if the deal is completed, or 9.8 percent more than an earlier forecast, according to Brett Stuart, the chief executive officer of meat researcher Global AgriTrends.

“Meat is continuing to move,” Jason Golly, a vice president of risk-management marketing at Lynch Livestock Inc., said in a telephone interview. “There’s just great demand.”

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April 12th, 2013

Hog futures fell, heading for the second straight weekly loss, on signs that cool weather across the U.S. is lowering demand for pork. Cattle advanced.

The forecast has turned cooler across the eastern and southern U.S. over the next 11 to 15 days, and a return to warmth “will be slower to evolve,” according to an e-mailed report from MDA Weather Services today. Meat purchases tend to increase when consumers grill outdoors during warmer weather.

“Our domestic demand is really holding us back,” Christian Mayer, a market adviser at Northstar Commodity Investments Co. in Minneapolis, said in a telephone interview. “The weather is what the weather is.”

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September 6th, 2012

Lean-hog futures fell to fresh 20-month lows Thursday as traders continue to react to signs of overwhelming pork and hog supplies pushed into markets by the effects of drought.

Hog contracts for October fell 2.5% to 71.75 cents a pound at the Chicago Mercantile Exchange, the latest 20-month low for the spot contract, or soonest-expiring futures. December hogs lost 1.4% to settle at 70.90 cents a pound. Spot contracts last hit a 20-month low two weeks ago.

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