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As of midday, lean hog futures have decreased by $1.00 to $2.25. The USDA reported a national base hog price of $70.31, down $1.93 from the previous day. The CME Lean Hog Index dropped by 56 cents to $87.71 on November 19.
Additionally, the USDA indicated that pork carcass cutout values rose by $2.59 to $92.80 per cwt. While rib and ham primals reported declines, the belly increased by $9.71. The USDA estimated hog slaughter at 494,000 head for Thursday, bringing the week-to-date total to 1.976 million head, which is 4,000 head higher than last week and up 30,598 head compared to the same week last year.
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