Lean hogs have been driving the large pullback in livestock futures after a porcine epidemic diarrhea virus decimated young pigs and pushed prices to record highs last summer. However, the virus subsided and more hogs are making it to market, Fortune reported. Moreover, lower international demand has also curbed any quick rebound in prices.
Live cattle and lean hog futures also fell Tuesday, following the USDA’s higher headcount for hogs slaughtered, Benzinga reports.
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Max Chen contributed to this article.