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On Tuesday, October 24, lean hog futures experienced mixed results, with contracts fluctuating between a decrease of 7 cents and an increase of 30 cents. The national average base hog price dropped to $74.94, down 38 cents from the previous day, while the CME Lean Hog Index reported $84.29, a decrease of 7 cents from the prior day.
The USDA reported a rise in the FOB plant pork cutout value by 47 cents, reaching $94.61 per cwt. Estimated hog slaughter for Monday was 487,000 head, which is an increase of 8,000 head from the previous week and 16,968 head more than the same Monday last year. Key contract values include October 24 Hogs at $82.225 (down $0.075), December 24 Hogs at $75.000 (up $0.125), and February 25 Hogs at $78.675 (up $0.275).
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