Hog Futures Drop for Second Day on Supply Gains; Cattle Slides

Hog futures declined for a second day on signs of increasing animal supplies. Cattle also fell.

Slaughter estimates for the week ending tomorrow rose 0.4 percent to 2.283 million head from a week earlier, according to Urner Barry, a Bayville, New Jersey-based provider of agriculture data and livestock news. Official estimates for livestock supply, demand and cash prices from the U.S. Department of Agriculture were suspended during a 16-day government shutdown that started Oct. 1.

“Truckers have been pretty busy” hauling hogs to slaughter, Don Roose, the president of U.S. Commodities Inc. in West Des Moines, Iowa, said in a telephone interview.

Hog futures for December settlement fell 0.6 percent to 87.9 cents a pound at 11:31 a.m. on the Chicago Mercantile Exchange. Prices dropped 0.4 percent yesterday.

Cattle futures for December delivery decreased 0.1 percent to $1.317 a pound. Yesterday, the price touched a nine-month high of $1.34.

Feeder-cattle futures for November settlement declined 0.2 percent to $1.66325 a pound.

To contact the reporter on this story: Dalton Barker in Chicago at dbarker40@bloomberg.net

To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net

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