Cattle Rise to Record, Hogs Gain as Global Meat Supply Tightens
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Cattle futures rose to a record and hog prices rallied on bets that U.S. meat exports will climb because of disruptions to global supplies.
South Korea has destroyed almost 2 million pigs and cattle, or 16 percent of the herds and the biggest cull in its history, after the nation’s worst outbreak of foot-and-mouth disease was reported in November. In that month, U.S. pork and beef exports rose to the highest since 2008, according to the most-recent government data.