Pork Bellies News
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Pork inventories in the U.S. climbed 6.3 percent at the end of March from a year earlier, the government said. Warehouses held a record amount of beef at the end of the month, the agency said.
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Pork inventories in the U.S. increased 2.3 percent at the end of February from a year earlier as production gained and exports fell, the government said.
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Hog futures fell to a five-month low on speculation that a jump in pork prices will slow demand from U.S. consumers. Pork bellies, used to make bacon, extended a rally to a record. Cattle were little changed.
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Hog futures fell for the fourth time in five sessions as pork prices plunged, signaling U.S. animal supplies may top consumer demand for meat. Pork bellies extended a rally to a record, and cattle were little changed.
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Pork-belly futures surged to a record $1.185 a pound after a plunge in U.S. inventories of the meat, which is used to make bacon. Hogs dropped the most in a year, and cattle gained.
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Pork inventories in the U.S. rose 3.4 percent at the end of January from a year earlier as production increased, the government said.
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Following is the text of the U.S. Cold Storage report for Jan. from the U.S. Department of Agriculture:
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Following is the text of the U.S. Cold Storage report for Nov. from the U.S. Department of Agriculture:
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Following is the text of the U.S. Cold Storage report for Oct. from the U.S. Department of Agriculture:
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Pork-belly futures jumped the maximum allowed by the Chicago Mercantile Exchange, touching a six-year high. Pork bellies for August delivery rose 3 cents, the CME’s daily limit, or 2.8 percent, to $1.095 a pound at 8:38 a.m., the highest price for a most-active contract since July 2004.
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