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On Thursday, lean hog futures experienced losses between 52 and 87 cents across front months. The national average base hog price dropped to $77.84, a decrease of 83 cents from the previous day, while the CME Lean Hog Index rose to $86.27 on September 3, up 12 cents.
The USDA reported a decrease in the FOB plant pork cutout value by 42 cents, bringing it to $94.87 per cwt. Notably, the ham and belly prices fell by $5.39 and $1.35, respectively. The estimated hog slaughter for Thursday was 485,000 head, totaling 1.456 million head for the week, which is 36,681 head more than the same week last year but below the previous non-holiday week’s count.
October 24 Hogs closed at $80.700, down $0.875; December 24 Hogs at $72.050, down $0.650; and February 25 Hogs at $75.250, down $0.525.
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