Hog Futures Post Biggest Weekly Drop Since August 2009
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Hog futures posted the biggest weekly decline in more than four years as confirmed cases of a piglet-killing virus slowed amid speculation that high pork prices are eroding demand.
The U.S. inventory of swine that farmers plan to sell for slaughter declined less than forecast by analysts in the three months through March 1, government data showed on March 28. Yesterday, wholesale pork tumbled 2.9 percent, the most in 13 weeks, according to U.S. Department of Agriculture figures.