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Copper Prices Dropped. Will U.S. Hog Farmers Cut Their Breeding Herds?

September 23, 2009 at 23:08 by Vladimir Vyun

Copper prices dropped as inventories reached a four-month high, causing concern that demand is falling. Other reasons for price decline are stronger dollar, decreasing appeal of the metal as an alternative investment, and slower imports in China. December delivery for copper dropped $0.0565 (2 percent) to $2.808 per pound on the New York Mercantile Exchange’s Comex division.

U.S. hog farmers may cut their breeding herds to the lowest level since 1988 as two years of losses forced more operations to shrink or go out of business. Demand for pork declined significantly, yet farmers are slow to cut supplies as they have about $3,000 invested in every sow they own. The December contract for wholesale pork gained $0.0095 (1.9 percent) to $0.497 per pound by 10:40 on the CME.

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