PORK BELLY FUTURES HIGHER AT MIDSESSION
Pork belly (bacon) futures fell for net
losses after starting higher, but firmed again at midsession to
post gains of 0.25 to 0.60 cent paced by February.
    Strength in other meat pits, especially live hog futures,
stimulated renewed local demand. Higher cash hog markets, light
runs as farmers take to the fields and possibly light slaughter
prompted support. Technical buying after yesterday's reversal
action added to the advance, traders said.
    Commission house profit-taking selling prompted by
expectations of a negative out of town storage report this
afternoon weighed on prices early. Guesses on the report ranged
from in 1.0 to 2.25 mln lbs, they noted.
 Reuter
