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Market Spotlight: Hog Prices
01 September 2006US - An unexpected jump in hog prices in August has left hog producers such as Smithfield Foods Inc. cheering and hog buyers such as Hormel Foods Co. and Tyson Foods Inc. suffering the consequences.
Producers have cut back on output for reasons including a porcine circovirus that is infecting hogs, a heat wave and a volatile corn market, and the result is skyrocketing prices.
In June, July and August, hog prices averaged $3.40 higher than during the comparable period last year. Live hog prices averaged $51 per hundredweight during the quarter, reaching $57 per hundredweight in August.
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Source: MSN Money
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