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Coffee, Cattle & Hogs Rise on Supply & Demand Prospects

June 27, 2013 at 23:16 by Vladimir Vyun

Futures for coffee gained today on concerns about possible strike in Columbia. Prices fell below production costs, making farmers meet on July 3 to decide whether they should start protests. Such prospects lead to concerns about shrinking supply and the fears drove the commodity higher. September futures for delivery of Arabica-coffee traded at $1.2190 per pound as of 23:06 GMT on ICE today after climbing 3.2 percent to $1.2225 per pound on the previous trading session.

Hog prices climbed on signs of demand for US pork. Cattle rallied as well. The US Department of Agriculture reported that US exports of pork totaled 8,607 metric tons last week, the highest level since March. August futures for hogs were at $0.9908 per pound on CME following the 1.3 percent rally to $0.9890 on the previous session. Cattle traded near $1.2243 per pound on the current session after rising 0.6 percent to $1.2293.

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