Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Hogs Slide on Signs of Ample Supplies of Pork; Cattle Decline

Dec. 27 (Bloomberg) -- Hogs declined the most in more than a week on signs of increasing supplies of U.S. pork. Cattle futures also fell.

Commercial pork output in the first 11 months of the year climbed 2.9 percent from a year earlier, the government said Dec. 21. Meatpackers slaughtered 442,000 hogs in the Iowa and southern Minnesota region in the week ending Dec. 22, 11 percent more than a year earlier, U.S. Department of Agriculture data show. Wholesale pork dropped 0.2 percent to 82.7 cents a pound yesterday, the USDA said.

“We still seem to have plenty of pigs coming to market,” Mark Schultz, the chief analyst at Northstar Commodity Investment Co., said in a telephone interview from Minneapolis.

Hog futures for February settlement declined 0.5 percent to close at 87.025 cents a pound at 1 p.m. on the Chicago Mercantile Exchange, the biggest drop for a most-active contract since Dec. 17. Prices are up 3.2 percent this year.

Cattle futures for February delivery fell 0.5 percent to settle at $1.3305 a pound in Chicago. Prices have risen 9.6 percent this year.

Feeder-cattle futures for March settlement dropped 0.7 percent to close at $1.5375 a pound on the CME.

To contact the reporter on this story: Elizabeth Campbell in Chicago at ecampbell14@bloomberg.net

To contact the editor responsible for this story: Patrick McKiernan at pmckiernan@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.