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On Tuesday, October 3, lean hog futures fell by 47 cents to $1.27 across most contracts, while the USDA reported the national base hog price at $98.63, a decrease of 76 cents from the previous day. The CME Lean Hog Index also dropped by 82 cents to $102.02.
USDA’s FOB plant report indicated a decline in the pork cutout price, down $1.51 to $106.03 per cwt, with the ham primal as the only category increasing. Additionally, federally inspected hog slaughter for Tuesday reached 488,000 head, totaling 979,000 head for the week—13,000 more than the previous week and 21,672 above the same week last year.
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