Hog Futures Climb on Increasing Pork Demand; Cattle Prices Drop
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Hog futures rose for the third day this week on signs of increasing U.S. demand for pork. Cattle prices fell.
Wholesale pork rose 1.2 percent to 87.69 cents a pound yesterday, the highest since Aug. 21, and prices are up 16 percent from a 22-month low on Sept. 19, U.S. Department of Agriculture data show. Yesterday, hogs for immediate delivery to slaughterhouses rose 0.4 percent to 79.33 cents a pound, and prices are up 1.3 percent this year, according to the USDA.