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Hog prices slump on decreased demand, effects of swine flu scare

Hog and pork prices continue to be hammered by excess supply, recession-reduced demand and a sharp drop in exports. Pork supplies in storage totaled 578.8 million pounds in June, 9 percent above the year-ago supply and a record high for this time of year. Hog slaughter is backing up, and as a result slaughter weights are up 4.2 percent from a year ago. Pork exports in May were down 36 percent from a year earlier, as some international bans related to swine flu fears remain in place.

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TAGS: Finance
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