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On Tuesday, lean hog futures experienced losses ranging from 65 cents to $1.30 across the front months. The USDA’s national base hog price was reported at $84.71, a slight increase of 5 cents from the previous day, while the CME Lean Hog Index was down 21 cents at $90.98.
The USDA’s pork carcass cutout value declined by $2.48 to $99.17 per cwt, with the picnic and loin values dropping by $8.17 and $3.45, respectively. The estimated federally inspected hog slaughter for Tuesday was 488,000 head, bringing the weekly total to 981,000 head, which is 2,000 head above last week and 5,778 head higher than the same week last year.
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