Hog futures rise as US pork inventories plunge
Sunday, 25 July 2010
CHICAGO, July 24 (Bloomberg): Hog futures rose for the third straight day after a government report showed US pork inventories plunged the most in 14 years. Cattle also gained.
Frozen-pork stockpiles fell 29 per cent in June from a year earlier, the government said yesterday after livestock markets closed. Pork production in the six months ended June 30 was 3.5 per cent less than a year earlier as losses in 2008 and 2009 spurred farmers to cut herds.
Frozen-pork stockpiles fell 29 per cent in June from a year earlier, the government said yesterday after livestock markets closed. Pork production in the six months ended June 30 was 3.5 per cent less than a year earlier as losses in 2008 and 2009 spurred farmers to cut herds.