Commodity Prices - Hogs
Hogs aren’t as popular for food consumption as beef, but as the commodity hogs are traded on many exchanges and their prices are often related to the prices of such commodities as beef, grain and other agricultural ones. News on hogs production, diseases, legislation, consumption as well as the general price change news are natural to this blog category.
Sugar, Wheat & Hogs Advance
Sugar futures gained after Pakistan increased purchases. Other importers may follow Pakistan, increasing demand for the sweetener. May futures for
Wheat futures went up as the dollar’s decline boosted appeal of the U.S. commodities. The greenback fell 0.6 percent versus a basket of six major currencies today, supporting commodities. May futures for wheat delivery went up $0.08 (1.6 percent) to $5.1375 per bushel on CBoT.
Hog futures advanced as U.S. pork prices continued to rally, signaling that meat inventories are declining. Increasing U.S. exports may further lower pork supplies, spurring hogs price. April futures for hog settlement rose $0.009 (1.3 percent) to $0.7035 per pound on CME.
Sugar Falls as Dollar Advance; Will Hogs Reach $0.75?
Sugar dropped after the dollar gained, cutting appeal of some riskier assets. The greenback gained 0.7 percent versus a basket of six major currencies. The rising dollar puts some commodities under pressure. March futures for
Hog futures reached the
Cattle & Hogs Go Up as Dollar Drops; Gold may Fall on Record Prices
Cattle futures went up and hogs advanced after the dollar slid, spurring the demand for commodities as an alternative investment. The U.S. currency declined versus a basket of six major currencies. February futures for cattle delivery added $0.00475 (0.6 percent) to $0.85225 per pound as of 10:06 on CME. February futures for hog’s settlement gained $0.004 (0.6 percent) to $0.0642 per pound.
Gold futures may decline as some investors sell after the precious metal reached a record high this year. Analysts think that gold rally is curbed until demand outpaces supply. February delivery for gold futures dropped $0.30 to $1,104.50 per ounce by 10:52 on the New York Mercantile Exchange’s Comex unit.
Will Gold Import in India Decline? Forecast for Food Prices
Gold imports in India, the greatest buyer in the world, may wane in December because demand went down on high prices. Imports by India expected to fall to 30 metric tons, down from 32 metric tons in November. Analysts forecast that “demand will remain low until prices fall”. Bullion for
Analysts predict that
Hogs, Sugar, Coffee Futures Rise
Hog futures gained for the first time in a week on speculation that a winter storm in the U.S. may prevent delivery of animals to slaughterhouses. A storm may cut shipments of hogs from producers, boosting prices on higher demand for supplies. February futures for hog settlement gained $0.00925 (1.4 percent) to $0.6605 per pound by 9:53 on the Chicago Mercantile Exchange.
Sugar futures advanced as the dollar declined, spurring demand for some commodities as an alternative investment. Sugar also rose on forecast that harvest in Brazil, the largest producer, will be lower because of excess rain. March futures for
Coffee futures rose for a second time in a week as the weakening dollar cut appeal of riskier assets such as commodities. The U.S. currency fell as much as 0.6 percent against the basket of six major currencies. March futures for
Copper Falls; Soybeans, Hogs Rise on Growing Demand
Copper tumbled on speculation that the global economic recovery may become slower. Imports of the metal in China, the largest consumer of copper in the world, slid in October for the third time in four months. March delivery for copper slid $0.0065 to $3.252 per pound by 11:39 on the New York Mercantile Exchange’s Comex unit.
Soybeans gained for the first time in three sessions on speculation that global demand for the U.S. oilseed and animal feed increased. Sales grew 58 percent to 27.8 million metric tons since September 1st. January futures for soybean delivery gained $0.0675 (0.7 percent) to $10.4075 per bushel as of 11:52 on CBT.
Hog futures climbed to the weekly high on speculation that a rising prices for U.S.
Hogs Rise to Six-Months Record; Corn Rises as Dollar Drops
Hog futures reached the record level in six months as increasing wholesale pork prices caused speculation about rising demand for the meat. Coming Thanksgiving causes increase in demand for turkey and ham, which is positive for hogs prices. February futures for hog settlement added $0.0165 (2.5 percent) to $0.6765 per pound by 9:57 on the Chicago Mercantile Exchange.
Corn advanced on expectation that a declining dollar will boost demand for commodities as a hedge against inflation. Traders tend to invest in commodities when greenback falls to preserve their purchasing power. March futures for corn delivery advanced $0.1475 (3.8 percent) to $4.0675 per bushel as of 11:51 on CBT.
Hogs Climb on Falling Inventories; Wheat, Cotton Rise on Dollar Decline
Hog futures jumped to a
Wheat gained on expectation that a declining dollar will increase the demand for commodities as an inflation hedge and boost U.S. exports. Another reason for the rising price is concern that U.S. farmers will plant fewer winter wheat as rainfalls delayed the corn and soybeans harvests, lowering the amount of land available for wheat. March futures for wheat delivery gained $0.0975 (1.7 percent) to $5.905 per bushel at 11:46 on CBT.
Cotton reached a 16-month high after the weaker dollar spurred demand for the commodity. The declining dollar is pushing down the cost to overseas buyers for U.S. commodities. Holders of cotton are unwilling to deliver supplies against the December futures contract. March futures for cotton delivery added $0.0066 (0.9 percent) to $0.747 per pound as of 12:51 on ICE.
Gold Reached the Week-Highest; Gained Corn, Falling Hogs
Gold reached the highest price in more than a week as the weakening dollar increases the attractiveness of the precious metal as an inflation hedge. The dollar declined 0.5 percent against a basket of six major currencies. “The fundamentals are clearly bullish for gold,” said Chip Hanlon, the president of Delta Global Advisors. December futures for gold delivery jumped $13.50 (1.3 percent) to $1,017.80 per ounce on the New York Mercantile Exchange’s Comex division.
Corn gained on speculation that cold weather in the U.S. Midwest may damage harvest. About 6 percent of the corn was harvested by September 27th. Corn prices declined earlier on expectations of record crop. December futures for corn delivery gained $0.08 (2.4 percent) to $3.415 per bushel on CBoT.
Hogs tumbled to a five-week low as increasing production and decreasing prices indicating that supplies may exceed demand. More than 2.3 million hogs was slaughtered a week for three straight weeks. Average hog weight reached 92 kilograms on October 1st, up 1.5 percent from a previous year, signaling higher pork output. December futures for hog settlement slid $0.0095 (2 percent) to $0.476 per pound on CME.
Declining White Sugar & Hogs; Rising Corn Futures
White sugar dropped to two-week low in London as prices tumbled in New York yesterday, signaling slowing demand. Prices also fell after the dollar rebounded, decreasing the attractiveness of commodities as a hedge against inflation. December delivery for white sugar dropped $13.10 (2.2 percent) to $571.40 per ton on the Liffe exchange.
Corn futures gained for a third day because of forecast that frost, expected next week in some parts of the northern Midwest, may reduce the size and quality of the crop in the U.S., the largest grower and exporter in the world. Crop loss may reach 13.2 billion bushels. December futures for corn delivery gained $0.0575 (1.7 percent) to $3.36 per bushel as of 11:37 on CBoT.
Hog futures slumped as U.S. pork prices declined on speculation that meat production may not be decreased enough to cope with dropping demand. Combination of low exports and domestic demand makes the pork market weak. The swine flu also discouraged people from buying pork. December settlement for hog futures slumped $0.0045 (0.9 percent) to $0.496 per pound by 12:22 on the Chicago Mercantile Exchange.
