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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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Hogs, cattle futures slip

Mar 07, 2011 04:02 PM

Demand for U.S. pork is slipping while supplies of the commodity are increasing, pushing down hog futures, Bloomberg reports.

Meatpackers in the the U.S. last week processed 1.5 percent more hogs as compared to the week prior, according to the U.S Agriculture Department.

Shortly before 4 p.m. on Monday, hog futures were down 1.39 percent, a 0.14 decrease to 9.965 per pound. Consumers have driven "a little weaker demand", according to Bill Frejlich, a senior broker at Price Futures Group in Chicago. "When the prices get high, people pull back a bit."

At least some of the slipping demand for hog products might come from Catholics cutting down on eating meat products on Fridays during Lent. Lent begins this year on March 9. 

During the past 12 months, hog futures have increased 18 percent. Hog futures' slip in value was the biggest drop since October. Cattle futures are also slipping in price. Shortly after 4:30 p.m. on Monday, cattle futures were down 0.39 percent, a 0.45 cent reduction to 1.136 per pound.

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