The big news in the May and June U.S. Department of Agriculture World Supply & Demand reports were the sharp increases in estimated hog and cattle prices for 2010 — and the USDA’s first look at 2011. USDA bumped projected 2010 choice steer prices from $91 to $94 per hundredweight, or cwt, and forecast 2011 at $98.50 — both numbers up sharply from an average of $83.25 per cwt in 2009. Similarly, hog prices for 2010 were raised from $51.50 to $55.50 per cwt, and 2011 ...

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