US cattle, hog futures drop limit on Japan crisis
CHICAGO, March 15
CHICAGO, March 15 (Reuters) - U.S. cattle and hog futures dropped as much as their 3-cent daily limit Tuesday morning as worries about a nuclear disaster in Japan had investors fleeing the markets, traders said.
Before the Japanese earthquake and tsunami which damaged some nuclear reactors, investors had bid cattle and hog futures to record highs.
At 10:25 a.m. CDT, (1525 GMT), April cattle futures LCJ1 were down 3 cents at 113.500 cents per lb and June LCM1 was likewise limit down at 113.650 cents.
April hogs LHJ1 were down 1.450 cents at 84.500 cents per lb with June hogs LHM1 down 2.850 cents at 94.700 cents. Other hog contracts were down their 3-cent limit. (Reporting by Bob Burgdorfer; Editing by John Picinich)