Hogs rose to the highest price in almost 13 years and cattle gained on speculation that US meat demand will improve as warmer weather encourages consumers to grill outdoors.
Meatpackers slaughtered about 2.18 million hogs last week, up 0.7% from a year earlier, while 637,000 cattle were killed, up 4.6%, USDA data show. Wholesale-pork prices are up 33% from a year ago, and beef has gained 20%, according to the USDA.
Hog futures for June settlement rose 1.675 cents, or 2%, to 85.05 cents a pound on the CME, after touching 85.65 cents, the highest level for a most-active contract since May 1997.
Meanwhile, cattle futures for June delivery rose 0.675 cent, or 0.7%, to 94.2 cents a pound on the CME. The price climbed 2.1% last week. Feeder-cattle futures for May settlement rose 1.425 cents, or 1.3%, to US$1.14125 a pound.
Wholesale-beef prices gained 0.6% to US$1.6404 a pound at midday, USDA data show. The price is up 18% this year on signs the economy is recovering, boosting demand for beef. Harsh winter weather also boosted prices, according to reports.










