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Lean hog futures declined by 77 cents to $1.80 across most contracts on Wednesday. The USDA reported a national base hog price of $104.72, reflecting a decrease of $1.38 from the previous day. Additionally, the CME Lean Hog Index fell by 8 cents on September 22, totaling $104.90.
NASS is set to release its quarterly Hogs & Pigs report on Thursday, with September 1 inventory projected to rise by 0.3% year-over-year. Breeding hogs are expected to decrease by 0.5%, while market hog inventory is anticipated to increase by 0.3%.
The USDA’s FOB plant pork cutout report indicated a drop of 71 cents to $111.97 per cwt. Estimated slaughter for Tuesday was 489,000 head, bringing the weekly total to 979,000, up 1,000 head from last week and 9,669 head from the same week last year.
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