Hogs Head for Biggest Rally in 15 Years on Deadly Virus
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Hog futures rose, heading for the biggest quarterly rally in 15 years, as a piglet-killing virus threatened U.S. meat production, signaling consumers will be forced to pay more for everything from bacon to pork chops.
More than 5,000 cases of porcine epidemic diarrhea have been reported as the deadly virus spread to at least 27 states in the U.S., the world’s biggest pork exporter, according to the National Animal Health Laboratory Network. American pork production may drop by the most in three decades this year as the number of hogs available for meat processors shrinks, Rabobank International estimates.