Hog futures have dropped for the fifth straight session, approaching the
longest slump since October 2011, on decreased demand for U.S. pig meat, according to reports.
Wholesale pig meat fell to 82.29 cents per pound on March 19, the lowest since January 2011, according to the U.S. Department of Agriculture. Stockpiles totaled 584.4 million pounds at the end of January, 8.5 percent more than the same time in 2011.
Hog futures for June dropped 0.7 percent to 92.775 cents per pound at 10:04 a.m. on March 20 on the Chicago Mercantile Exchange — the last time prices posted a five-session slide was on Oct. 27, 2011.
Wholesale pig meat fell to 82.29 cents per pound on March 19, the lowest since January 2011, according to the U.S. Department of Agriculture. Stockpiles totaled 584.4 million pounds at the end of January, 8.5 percent more than the same time in 2011.
Hog futures for June dropped 0.7 percent to 92.775 cents per pound at 10:04 a.m. on March 20 on the Chicago Mercantile Exchange — the last time prices posted a five-session slide was on Oct. 27, 2011.
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