Pig prices in the U.S. tumbled to a two-year low following fears of a resurgence of the H1N1 flu this fall and a statement issued by U.S. Homeland Security Secretary Janet Napolitano, Reuters reported. Napolitano said that there would not be enough vaccine early in the flu season.
The Chicago Mercantile Exchange hog markets reported selling amid talks that producers have been sluggish in culling herds despite nearly two years of losses.
Smithfield Foods Inc. and Tyson Foods Inc. have taken the lead in liquidating some of their hog breeding herd.