Pork Futures Sink; Agriculture Futures Rise

CHICAGO (AP) — Pork futures sank for the second day Tuesday on the Chicago Mercantile Exchange as concerns about the global swine flu outbreak deepened. Consumers are worried about catching the virus from the pork, analysts have said, even as U.S. pork producers maintained that their product is safe.

Multiple countries have banned pork from swine flu-struck regions.

June lean hogs lost 2.35 cents to 66.3 cents a pound, while July pork bellies fell 3 cents to 77.8 cents a pound.

Meanwhile, agriculture futures were mixed Tuesday on the Chicago Board of Trade.

Wheat for July delivery advanced 2.5 cents to $5.22 a bushel, while July corn gained 2.75 cents to $3.835 a bushel and July soybeans dropped 14 cents to $9.83 a bushel. Oats for May delivery slipped 0.75 cent to $1.8625 a bushel.

Beef futures also traded mixed on the Mercantile Exchange.

June live cattle inched up 0.15 cent to 81.95 cents a pound, while August feeder cattle lost 0.7 cent to 99.05 cents a pound.