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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Hog, cattle futures await seasonal surge

May 18, 2011 03:36 PM

Decreasing demand for U.S. pork pushed the livestock commodity to their lowest prices in 10 weeks while cattle futures fluctuated, Bloomberg reports.

On Tuesday, hog futures dropped 0.5 percent as prices for wholesale pork dropped 1.3 percent, according to data from the U.S. Agriculture Department. Those losses were the first decreases since the first week of May.

Demand for meat could be hurt by the increasing price for gas since that also is a competing draw from consumers, according to Chad Henderson, a Wisconsin-based market analyst at Prime Agricultural Consultants.

At 4:03 p.m. on Wednesday, hog futures dropped 1.75 percent, a 0.01625 percent slip to 0.914 cents per pound. At 4:07 p.m., cattle futures were up 0.14 percent, a 0.0015 cent increase to $1.0945 per pound.

Though some analysts are expecting the slow demand to turn into a surge as the summer barbecuing season begins with Memorial Day Weekend, figures on Friday were gradual.

"The trade is disappointed with the cash market this week," Henderson said.

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