Source:  Lisa M. Keefe, MEATINGPLACE.COM, 10/13/09

An uptick in hog prices and USDA's projection of abundant corn this year boosted the stock price of Smithfield Foods Inc. by more than 10 percent on Friday. As of mid-day Monday, the price had largely retained its gains.

Hog prices moved higher last week at the Chicago Mercantile Exchange due to investment funds putting money into that market, according to a report by Reuters.

Meanwhile, the USDA reported expected yield and total corn crop at record levels: 13.03 billion bushels this year, according to the Daily Livestock Report.

Smithfield stock rose as high as $14.77 on Friday, its highest level since January 2009, and up 10.6 percent on the day. On Monday, after some early profit-taking, the stock price remained above $14, and closed at $14.39.

For more stories, go to www.meatingplace.com.