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On Tuesday, November 29, lean hog futures closed with negligible changes, while the national average base hog price increased to $86.89, up $2.92 from the previous day. The CME Lean Hog Index was recorded at $84.36, down 85 cents from the day before.
The USDA reported a decrease in the FOB plant pork cutout value, which fell by $3.05 to $89.61 per cwt. Tuesday’s estimated hog slaughter was 487,000 head, totaling 976,000 for the week, a decline of 2,000 from last week but an increase of 2,706 from the same week last year.
Prices for futures closed as follows: Dec 24 Hogs at $83.250 (up $0.025), Feb 25 Hogs at $87.850 (down $0.100), and Apr 25 Hogs at $92.325 (down $0.150).
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