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Lean Hog Gains Continue

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Dec and Feb hog prices found Thursday strength, and with a triple digit gain for Dec futures the spread shrank to $1.55. The back months’ premiums also fell back to between $3.02 to $4.05 as the deferred hogs were in the red at the close. The October 13 CME Lean Hog Index was another 3 cents higher at $78.24. USDA’s National Average Morning Base Hog price was $63.63, up by 65 cents. USDA’s PM National Pork Carcass Cutout value was $4.85 stronger at $101.42. Hams and bellies were up the most, with $13.65 and $7.74 increases respectively. USDA’s estimate for the week’s FI hog slaughter is 1.945 million head. That is 11k lower wk/wk and 14k lower yr/yr.

--- provided by Brugler Marketing & Management

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