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On September 29, 2023, lean hogs settled with contracts down 55 cents to 25 cents higher. The national average base hog price was reported at $75.11, a decrease of $3.07 from the previous day. The CME Lean Hog Index reached $84.07, up 2 cents from the prior day.
The quarterly Hogs & Pigs report indicated that total hog inventory as of September 1 was 76.48 million head, up 0.46% from last year. Market hogs increased by 0.69% to 70.437 million head, while breeding hogs fell by 2.18% to 6.044 million head. The USDA reported an estimated hog slaughter of 2.569 million head for the week, an increase of 63,000 head from the previous week and 47,672 head above the same week last year.
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