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Lean hog futures increased by 35 to $1.35 across most contracts at midday on September 9. The USDA reported a national base hog trade average of $107.64, up 22 cents from the previous day, while the CME Lean Hog Index declined 6 cents to $105.93.
Export Sales data revealed a total of 17,327 MT of pork sold for the week ending September 4, marking a 7-week low, with shipments recorded at 23,358 MT, the lowest since mid-January. The USDA’s estimated federally inspected hog slaughter for Wednesday was 490,000 head, totaling 1.46 million head for the week, exceeding last week’s holiday figures and up by 6,561 head compared to the same week last year.
As of September 9, Oct 25 Hogs are priced at $98.150, Dec 25 Hogs at $89.075, and Feb 26 Hogs at $90.575, reflecting gains of $1.325, $0.800, and $0.350 respectively.
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