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Cash hogs seen $1 higher

06/13/2012 @ 7:47am

Pork processors are expected to pay flat to as much as $1 per hundredweight higher prices for hogs compared with yesterday's quotes as packers complete for available supplies. Higher prices are not pulling more hogs off the farms so far as this week's total is projected around 1.955M to 1.96M, nearly 1% below a year ago. The average weight for barrows and gilts in Iowa/southern Minnesota last week was down 0.5 pound from previous week but 5.8 pounds above year-ago. Wholesale pork prices yesterday rose 91c to $88.30/hundredweight, highest since Dec. 19. Terminals also called flat-higher. (curt.thacker@dowjones.com)

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(END) Dow Jones Newswires

June 13, 2012 08:27 ET (12:27 GMT)

DJ MARKET TALK: Cash Hog Prices Called Flat to $1 Higher->copyright

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