Corn market rebounds from early low on Tuesday
Bearish short-term prospects seemed to weigh rather heavily upon the hog and pork complex again Monday. Anticipation of continued seasonal losses by the ham market and its negative impact upon the whole hog and pork complex probably played a role in that weakness as well. However, nearby futures rebounded from early morning lows and ended the day moderately higher. Wire service sources cited talk of recovering cash prices and the potential bullish impact of forthcoming wintry weather for the bounce. Whatever the underlying cause, the late gains seemingly bode well for short-term hog price prospects. Late-December shifts in pork values, especially those for loins, hams and bellies could go far in setting the tone for the hog market in early 2013. February hogs moved 0.45 cents higher to 85.27, while the June contract rose .75 cents to 100.00 cents/pound.
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