Hog prices gain as power loss may spur meat buying

Hog futures climbed on speculation that electricity losses from Hurricane Sandy will prompt U.S. consumers in the Northeast to increase meat purchases in the coming weeks to replace spoiled food. Cattle also rose.

The Atlantic superstorm came ashore in southern New Jersey at 8 p.m. local time yesterday and drove floodwaters to life- threatening levels in a region with 60 million residents. At least 3.6 million homes and businesses were without power yesterday, the government said.