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Hogs Post Strength on TuesdayLean hog futures saw contracts with a tick to 42 cent higher trade on Tuesday. The national average base hog price was reported at $76.06 on Monday afternoon, down 20 cents from the previous day. The CME Lean Hog Index was reported at $84.26 on October 4, down 57 cents from the day prior. USDA’s FOB plant pork cutout value was reported at $94.81 per cwt in the Tuesday PM release, down $1.24 from the day prior. The rib and ham were the only primals reported higher. USDA estimated FI hog slaughter for Tuesday at 484,000 head, with the week to date total at 955,000 head. That is down 16,000 head from the previous week on a revision lower to Monday’s total and 13,558 head below the same week last year. Oct 24 Hogs closed at $84.125, up $0.150, Dec 24 Hogs closed at $77.175, up $0.350 Feb 25 Hogs closed at $80.775, up $0.175, On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here. |
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