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Crude Oil Fluctuates, Hogs Decline

March 26, 2010 at 20:50 by Vladimir Vyun

Crude oil fluctuated as the dollar fell, bolstering the demand for commodities as an alternative investment, and after a government report that the U.S. economy expanded less than predicted in the fourth quarter of 2009. The U.S. currency fell as much as 1.1 percent versus the euro. OPEC is planning to raise shipments by 1.7 percent in the month ending April 10th, signaling that demand in Asia stays high. May delivery for crude oil fell $0.14 to $80.39 per barrel as of 10:26 on NYMEX.

Hog futures slid on outlook for lower reductions of the U.S. breeding herd. U.S. hog farmers held back about 5.855 million sows for breeding by March 1st, that’s 2.3 percent down from a previous year. Reductions declined as farmers expect that profits may rebound after losses on slumping pork demand and high corn prices. June futures for hog settlement slid $0.00175 (0.2 percent) to $0.7945 per pound by 11:44 on the Chicago Mercantile Exchange.

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

One Response to “Crude Oil Fluctuates, Hogs Decline”

  1. Kent Gibson

    as of today it still the same problem…crude oil fluctuates because of the middle east turmoil happening.

    [Reply]

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