Hog Traders Look to Tuesday Trade
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Lean hog futures fluctuated on Monday, with prices down 12 cents to up 27 cents. Open interest increased by 2,164, indicating modest new buying. The USDA reported a national base hog price of $90.24, down 18 cents, while the CME Lean Hog Index rose to $91.44. The pork carcass cutout value decreased by 38 cents to $99.23 per cwt. Estimated federally inspected slaughter was 489,000 head, down 3,000 from last week but up 4,406 from last year. May, June, and July hog futures closed higher at $94.375, $102.175, and $105.025, respectively.
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