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On October 10, 2023, lean hog futures experienced declines ranging from $1.50 to $1.70, with October futures expiring up by $0.05. The USDA reported the national base hog price at $93.05, an increase of 76 cents from the previous day, while the CME Lean Hog Index fell by 86 cents to $98.57.
USDA’s report indicated that the pork cutout rose by 17 cents, reaching $103.76 per cwt. The estimated hog slaughter for Tuesday was 491,000 head, resulting in a week-to-date total of 976,000 head—up 5,000 from the prior week and 17,887 higher than the same week last year.
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