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Hogs Rise to Six-Months Record; Corn Rises as Dollar Drops

November 25, 2009 at 21:07 by Vladimir Vyun

Hog futures reached the record level in six months as increasing wholesale pork prices caused speculation about rising demand for the meat. Coming Thanksgiving causes increase in demand for turkey and ham, which is positive for hogs prices. February futures for hog settlement added $0.0165 (2.5 percent) to $0.6765 per pound by 9:57 on the Chicago Mercantile Exchange.

Corn advanced on expectation that a declining dollar will boost demand for commodities as a hedge against inflation. Traders tend to invest in commodities when greenback falls to preserve their purchasing power. March futures for corn delivery advanced $0.1475 (3.8 percent) to $4.0675 per bushel as of 11:51 on CBT.

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