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U.S. Pork, poultry set record-high prices
13.05.2010 12:39 "Agro Perspectiva" (Kyiv) —
With US demand for meat and poultry re-emerging from the recession, it has come back at extremely low levels of production, prompting prices to rise sharply.
According to Feedstuffs, In the hog markets, hogs were up US$2.783.47 to US$85.7985.61/cwt., lean carcass basis, east to west across the Corn Belt last Thursday, prices that were equivalent to a US$65.00 live cash hog market and 64.2% more than at this time last year.
At US$85.79, hogs in the eastern Corn Belt were record high, replacing the previous record set in August 2008. Hogs in the western Corn Belt were within $1.10 of a new record high.
Despite production this year thats 4.2% more than year ago, poultry markets were balanced to tight because of demand for breast meat for Mothers Day weekend and to replace higher-priced beef and pork in ads, market sources said.
Chickens were 8589 cents and 7785 cents/lb. in the eastern and mid-western regions, up 4 cents from the week before and 13.0% from the year before, and at 8589 cents, chickens in the eastern region were record high, replacing the record 8184 cents established in May 2007.
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