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Lean hog futures declined on October 24, 2023, with contracts closing $1.30 to $1.65 lower. USDA reported a national base hog price of $102.25, down 19 cents from the previous day, while the CME Lean Hog Index fell 5 cents to $104.78.
The USDA’s Tuesday morning pork cutout report showed a decrease of $1.88 to $110.34 per cwt, with only the rib primal increasing in value. Federally inspected hog slaughter was estimated at 481,000 head for the day, bringing the week-to-date total to 971,000, which is 6,000 head above last week but 4,225 head below the same week last year.
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