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Hog futures headed for the biggest drop in almost two weeks after a government report showed the U.S. herd increased more than analysts expected, indicating more pork supplies. Cattle prices also declined.
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Cattle futures rose for the third time in four sessions on signs of shrinking U.S. supply of animals available to beef processors. Hogs declined.
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A black teenager told a judge in New York that he was confused, frightened and angry when two plain-clothes police stopped him in 2010 near his home in Manhattan, then questioned and frisked him.
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A lawyer for a citywide class of New Yorkers who say they were targeted with racially biased, unconstitutional police stops asked a Manhattan federal judge to order a halt to the practice.
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Hog futures fell for the second straight session amid speculation that demand for pork is weak. Cattle slipped to an eight-month low.
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Hog futures dropped from a one-week high on speculation that U.S. pork exports declined even before Russia imposed a ban on the meat last month. Cattle also fell.
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Cattle rose for the first time this week on speculation that a winter storm sweeping across the U.S. may reduce animal weights, while beef exports jumped. Hogs fell, capping the longest decline since October 2008.
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Cattle declined to the lowest price in almost three months on speculation that U.S. meat supplies are outpacing demand as animal weights rise. Hogs also dropped.
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Hog futures rose to a five-week high on speculation that U.S. pork exports will increase after China, the world’s largest consumer, ended its currency peg to the dollar. Cattle also gained.
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Cattle futures climbed for the first time in more than a week on signs of tightening beef supplies. Hog prices were little changed.
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