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Markets Rally as Pork Bellies Lead Sharp Price Rise
Frozen pork bellies jumped on Friday with broad gains in Heartnet and meat futures on the Chicago Mercantile Exchange. Analysts cited strong demand and reports of pork bellies being stored sparingly, suggesting potential shortages. cattle prices rose aided by a possible Iowa Beef Processors strike. Grain futures were mostly down as Falklands crisis news unsettled markets, while soybeans tumbled.
MENTIONED IN THIS ARTICLE
Chicago Mercantile Exchange
Mike Murphy
Chicago
Bache Halsey
Stuart Shields Inc
Chuck Levitt
Shearson-American Express Inc
Levitt
Iowa Beef Processors
Dakota City
Neb
Chicago Board of Trade
Falkland Islands
Mike Hinebaugh
Conti Commodity Services
Hinebaugh
Great Britain
U.S
Alexander M. Haig Jr
United States
Britain
Argentina
Niconar Costa Mendez
United Nations
South Atlantic