March 12, 2011

US cattle and hog markets down after Japanese quake

US cattle and hog futures fell about 1% early Friday (Mar 11) as investors sold after a massive earthquake hit Japan, analysts said.

Japan is big buyer of US commodities like meat and grains.

"It is a flight from risk. This adds risk. When risk is up people get out of positions," said an analyst.

June live cattle futures LCM1 were down 1.050 cents, or 0.90%, at US$1.15 per pound and June hog futures LHM1 were down 1.325 cents, or 1.3%, at US$1.00125 cents per pound.