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On Thursday, lean hog futures decreased by 7 to 22 cents, while the USDA’s national base hog price rose by 42 cents to $99.05. The CME Lean Hog Index also fell by 60 cents to $101.42 as of October 6.
The USDA’s FOB plant report indicated a $2.21 drop in the pork cutout to $103.82 per cwt, with all primals reporting lower prices. Wednesday’s estimated federally inspected hog slaughter was 489,000 head, bringing the total for the week to 1.46 million head, which is 11,000 head above last week and 17,545 head larger than the same week last year.
The closing prices for hog futures on October 25 were: Oct 25 Hogs at $97.625 (down $0.225), Dec 25 Hogs at $86.100 (down $0.075), and Feb 26 Hogs at $88.125 (down $0.150).
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