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Lean Hog Bulls Can't Get Anything Going

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Lean hog futures were down by triple digits on Thursday, with August at $51.02. The CME Lean Hog was $52.95, up by $1.85 on July 28. USDA’s National Average Base Hog price for Thursday afternoon was $41.36. USDA reported 39,592 MT of pork was sold on the week ending July 23. That was a 12-week high. Pork shipments were listed at 31,500 MT on the same week. The top destinations were again China and Mexico. USDA’s National Pork Carcass Cutout value was down $0.34 to $67.57 in the Thursday afternoon report. Federally inspected hog slaughter for the week through Thursday is 1.882 million head. That is below last week’s pace by 84,000 head, but exceeds the same week last year by 21,000 head. --- provided by Brugler Marketing & Management

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