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334558

UPDATE 1-China hog futures jump by record on tight supplies

(Adds detail, comment)

BEIJING, Oct 10 (Reuters) - China's most active hog futures rose more than 5% in early trade on Monday, after tight supplies during the week-long National Day holiday pushed up spot prices.

The January contract on the Dalian Commodity Exchange had reached 23,620 yuan ($3,322.50) per tonne as of 10:04 a.m. (0204 GMT), up 5.3%, the largest daily rise since hog futures were launched last year.

Cooler weather and a bump in consumption during the holiday boosted demand for fresh meat supplies, pushing up daily slaughtering volume, said Wu Li, analyst at Tianfeng Agriculture in a note on Sunday.

Spot prices for hogs reached 26.2 yuan per kilogramme on Sunday, up 8% since Sept. 25, the note added.

Futures rallied on the sharp rise in spot prices as Dalian reopened for trading on Monday.

China's state planner said on Sunday it will release a new batch of pork from state reserves to try to cool prices.

Further measures are expected, said Yuan Song, chief analyst at trading firm Juxing Agriculture Group. ($1 = 7.1091 yuan) (Reporting by Dominique Patton; Editing by Tom Hogue and Edmund Klamann)

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