Bloomberg the Company

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

Follow Us

Industry Products

Hogs Gain on Fourth of July Grilling Demand; Cattle Rise

Don't Miss Out —
Follow us on:

July 3 (Bloomberg) -- Hog futures rose for the first time in four sessions on signs of increasing demand for U.S. pork before the Independence Day holiday. Cattle also increased.

About 373,000 hogs were processed in the Iowa and southern Minnesota region in the week ending June 29, up 1.6 percent from a year earlier, U.S. Department of Agriculture data show. Tomorrow is the most-popular day in the U.S. for outdoor grilling, according to the Hearth, Patio and Barbecue Association.

“Everyone’s expecting better movement because of the Fourth of July,” Chad Henderson, a market analyst at Prime Agricultural Consultants Inc. in Brookfield, Wisconsin, said in a telephone interview.

Hog futures for August settlement gained 0.2 percent to close at 96.85 cents a pound at 12:12 p.m. on the Chicago Mercantile Exchange. The price fell 2.8 percent in the previous three sessions. The market will be closed tomorrow for the holiday.

Cattle futures for August delivery climbed less than 0.1 percent to $1.2195 a pound.

Feeder-cattle futures for August settlement added less than 0.1 percent to $1.5095 a pound.

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.