Hogs See Some Strength on Friday
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Lean hog futures showed mixed results on Friday, with April down 5 cents while other contracts rose between 20 to 67 cents. The USDA reported a national base hog price of $91.69, up $1.95 from the previous day. The CME Lean Hog Index increased by 37 cents to $90.55. Managed money raised their net long positions in lean hog futures by 7,053 contracts. The USDA's pork carcass cutout value fell by 95 cents to $98.27 per cwt, with varied primal prices. Estimated hog slaughter was 2.497 million head, slightly lower than last week but higher than last year.
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