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Shelley Goldberg

You Think Bacon Prices Are High Now? Just Wait

Prices for pork bellies have increased about 80 percent this year, and frozen reserves are at a 60-year low.
Three little pigs.

Three little pigs.

Photographer: Adam Berry/Getty Images

A national bacon craving is forcing up the price of Lean Hog Futures on the Chicago Mercantile Exchange. And the trend appears set to continue.

Prices for pork bellies, the part of a hog from which bacon is produced, have increased about 80 percent this year, and frozen reserves are at a 60-year low. Lean hog futures are the instrument of choice used as a hedge by both producers and restaurant companies, and are also found in hedge funds, commodity indices and ETFs.