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Hogs jump on pork prices

06/18/2012 @ 2:48pm

Lean hog futures hit a 10-month high following surge in pork prices after trading Friday and big gains in grain markets during Monday's session. Pork prices have finally recovered from terrible spring, due in part to seasonal tightening of supplies, reaching year-ago level for first time since Jan. CME July hogs close up 2.6% to 95.45c/lb. Aug hogs up 2.2% to 93.22c/lb. CBOT July corn jumps 3.9% to $6.02/bushel. Cattle futures also moved higher, helped by hog rally and grains, despite concerns over demand after July 4. June cattle close up 0.9% to $1.172/lb. Aug cattle climbs 1.1% to $1.1797/lb. (marshall.eckblad@dowjones.com)

(END) Dow Jones Newswires

June 18, 2012 14:23 ET (18:23 GMT)

DJ MARKET TALK: Hog Futures Soar On Pork Prices, Pull Cattle Upward->copyright

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