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On Friday, lean hog futures rose by 87 cents to $1.05, with October contracts increasing by $1 for the week. The USDA reported a national base hog price of $101.25, down $3.18 from the previous day, while the CME Lean Hog Index rose by a nickel to $105.97 on September 3.
Export Sales Data showed U.S. pork bookings decreased to 23,711 MT for the week ending August 28, with Mexico as the top buyer at 10,100 MT, followed by Japan at 2,300 MT. Weekly shipments increased to 26,570 MT, mainly to Mexico at 12,900 MT.
The USDA estimated federally inspected hog slaughter for the week at 2.319 million head, which is 73,000 head below the previous week and 10,979 head below the same week last year. Oct 25 Hogs closed at $96.025, Dec 25 Hogs closed at $88.325, and Feb 26 Hogs closed at $90.375.
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