Lean hogs futures posted gains of 2.5 cents to $1.075 in the front months, as deferred contracts were lower. The CME Lean Hog Index for 10/9 was 69 cents higher than the previous day at $57.11. The USDA pork carcass cutout value was 4 cents lower at $73.67 in the Wednesday afternoon report. The ham and belly were the only cuts reported higher. The national base hog carcass price was 82 cents higher in the PM report at $55.82. Estimated weekly FI hog slaughter was 1,389,000 head through Wednesday, 22,000 head ahead of last week and 216,000 larger than the same week in 2016. The two new plants continue to ramp up production.
Market Commentary provided by:
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