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Hogs Resume Climb on Tuesday
Lean Hog futures rounded out the Tuesday session with contracts up 10 to 57 cents. The national average base hog negotiated price was reported at $84.79 on Tuesday afternoon, up $1.27 from the previous day. The CME Lean Hog Index was reported at $90.02 on November 8, back down 41 cents from the day prior. USDA’s FOB plant pork cutout value was back lower in the Tuesday PM report, down $3.78 at $97.68 per cwt. The butt and picnic were higher, with the other primals lower and the belly down $11.56. USDA estimated Tuesday’s FI hog slaughter at 489,000 head on Tuesday, with the week to date total at 947,000 head. That is 30,000 head below last week and down 452 head from the same week last year. Dec 24 Hogs closed at $82.350, up $0.575, Feb 25 Hogs closed at $86.325, up $0.400 Apr 25 Hogs closed at $90.125, up $0.150, 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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