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Cattle, Hogs & Corn Decline Today

June 5, 2013 at 21:00 by Vladimir Vyun

Hogs and cattle fell today on worries that demand for US meat will wane. The US Department of Agriculture predicted last month that US exports will fall 2 percent to 2.4 billion pounds in 2013. Previously, it was expected that demand will grow. August futures for delivery of cattle fell $0.0075 (0.62 percent) to $1.1938 per pound as of 20:41 GMT on CME today. July contract for hogs lost $0.0018 (0.18 percent) to $0.9458 per pound.

Corn continued to fall on anticipation of huge supply this year. Some analysts reduced their forecasts for US harvest, but it is still expected to be at a record. Today’s huge drop followed yesterday’s big decline. December futures for corn slid as much as $0.1075 (1.94 percent) to $5.4225 per bushel on CBoT today.

If you have any questions and comments on the commodities today, use the form below to reply.

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