FINANCIAL MARKETS : COMMODITIES : Tight Pork Supplies Boost the Market

Pork prices rose strongly Thursday as tight supplies and steady demand for pork products continued to boost the market.

In New York commodity markets, copper prices fell for a second straight day, while cocoa ended higher after a volatile trading session.

Oil prices fell in choppy trading as dealers squared their books ahead of the three-day Easter weekend. All U.S. commodity markets will be closed today.

On the Chicago Mercantile Exchange Thursday, live hog prices set contract highs in all months, while pork bellies also ended strongly.

According to livestock analysts and traders, many of the larger hog-producing operations are already at capacity and are unable to increase herd size to meet demand.

Live hogs for June delivery closed at 60.05 cents a pound, up 0.15 cent.

Pork bellies for May delivery rose 1.225 cents to close at 59.025 cents a pound.

Elsewhere, copper traded on the Commodity Exchange in New York fell again, marking the first time in nearly two weeks the volatile market has moved in the same direction for two consecutive days.

Copper for April delivery fell 1.70 cents to $1.1930 a pound after a late selloff that most traders said was based on technical factors.