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CHICAGO, Sept 5 (Reuters) – U.S. lean hog futures surged about 4 percent on Tuesday, boosted by chart-based buying and stronger demand from pork packers, traders and analysts said.
Hog futures on the Chicago Mercantile Exchange notched the largest percentage gains in more than two months as prices continued rising from multimonth lows reached on Aug. 29.
Two new pork processing plants began slaughtering this week in Iowa and Michigan, increasing competition for hogs, the traders said.
