Orange Juice Futures Climb

Orange juice futures prices advanced Tuesday on the Cotton Exchange in New York as a citrus canker scare, which may be unfounded, made its way through the trading floor.

An agency of the Florida Department of Agriculture said it was investigating a suspicious-looking seedling sample from a nursery near Tampa.

Diane Viggiano, an orange juice analyst in New York with Shearson Lehman Bros., said the report prompted fears of citrus canker, which damages the fruit. However, the Florida agency said results of tests won’t be available until the end of the week.

A citrus canker breakout last year prompted a sharp run-up in prices.

Livestock and meat prices were mostly higher in active trading on the Chicago Mercantile Exchange.

Pork prices were boosted by rumors that regulations may be established to quarantine hogs imported from Canada because of the use of a drug there that is banned in the United States, sources said.

However, the rumors appeared to be unfounded, said Chuck Levitt, a livestock analyst in Chicago with Shearson Lehman.