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Signs of Demand Boost Cattle & Beef, Hogs Down

May 2, 2013 at 23:28 by Vladimir Vyun

Cattle futures advanced today on signs of increasing demand for US beef. Hogs fell. US meatpackers processed 369,000 cattle in the first three days of this week. It is 0.5 percent more than a week before and 0.8 percent more than in the same period in previous year. Demand will likely continue to grow if temperatures continue to warm up, leading to increase of outdoor grilling.

The general market sentiment was positive, leading to gains of commodities as a whole. At the same time, hogs did not join the rally.

June futures for delivery of cattle rose $0.0015 (0.12 percent) to $1.2380 per bushel as of 23:25 GMT on CME today. Hogs declined $0.0023 (0.24 percent) to $0.9260.

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