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 Most in Four Weeks on Rising Pork Supply; Cattle Drop

Jan. 9 (Bloomberg) -- Hog futures fell the most in four weeks on speculation that supplies of U.S. pork are outpacing demand. Cattle prices declined.

Wholesale pork slumped 0.5 percent to 83.05 cents a pound yesterday, the lowest since Jan. 2, U.S. Department of Agriculture data show. Meatpackers processed 860,000 hogs in the first two days of this week, up 1.5 percent from the same period a year earlier, government data show.

“You have some more pigs coming to the market,” Christian Mayer, a market adviser at Northstar Commodity Investments Co. in Minneapolis, said in a telephone interview. “I don’t think demand is quite strong enough to make up for that.”

Hog futures for February settlement fell 1.3 percent to 85.25 cents a pound at 9:34 a.m. on the Chicago Mercantile Exchange. A close at that price would mark the biggest drop for a most-active contract since Dec. 6.

Cattle futures for February delivery slid 0.1 percent to $1.324 a pound on the CME. Last week, prices slipped 0.5 percent, the first drop since Nov. 30.

Feeder-cattle futures for March settlement retreated 0.2 percent to $1.54675 a pound in Chicago.

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

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