Hog futures are rising on increased demand and tight supplies, with October numbers reaching 91.7 cents per pound (up 0.3%) as of 9:50 a.m. CST on July 28.
Current spot-market hog prices hit a five-week high at 99.35 cents per pound on July 27, up 1.6%, while wholesale-pork prices increased 1% to $1.0234 per pound, the highest since October 1997. Overall, hog futures have gained 20% in the last year.
