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FINANCIAL MARKETS : Commodities

June 16, 1989|From Associated Press

Hog futures prices climbed on the Chicago Mercantile Exchange amid expectations for stronger pork demand late this summer due to an anticipated tightening of beef supplies.

On other markets, oil futures prices rose; precious metals were higher, and grains and soybeans were mixed.

Crude-oil futures finished higher but well below the day's highs on the New York Mercantile Exchange on signs of tightening supplies of the U.S.-produced crudes that give the highest gasoline yields.

A sharp drop in the dollar's value against major foreign currencies gave precious-metals prices a boost on New York's Commodity Exchange.

Gold settled $3.20 to $4.10 higher, with August at $370.70 an ounce; silver was 5 cents to 6.1 cents higher, with July at $5.33 an ounce.

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