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Lean hog futures saw a decline on Wednesday, with contracts dropping by 5 to 50 cents. The USDA’s national base hog price was reported at $85.53, a decrease of $2.50 from the previous day. The CME Lean Hog Index was also down 24 cents, closing at $92.03 on October 27.
USDA’s pork carcass cutout value increased by 22 cents to $100.24 per cwt, despite lower prices reported for loin, rib, and ham. The estimated federally inspected hog slaughter on Wednesday was 492,000 head, bringing the weekly total to 1.471 million head, which is 1,000 head lower than last week but 5,771 head higher than the same week last year.
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