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Hogs Mostly Higher, Handicapped by Cash Weakness
Alan Brugler - BRUG - Wed Nov 25, 7:21AM CST

Lean hog futures closed the Tuesday session higher, with the exception of the Feb contract.  December Pork Cutout futures were down 55 cents despite the low Cold Storage number. The CME Lean Hog Index for Nov 20 was down another 31 cents at $67.83. USDA’s National Average Base Hog price was down 45 cents at $57.87 in the afternoon report. USDA’s National Pork Carcass Cutout value was back down 19 cents in the PM release to $77.58. USDA FI hog slaughter for Tuesday was again 497,000 head. The WTD total is 994,000, 24,000 more than last week and 11,000 larger than the same week in 2019. Chinese data shows 330,000 MT of pork imported during October, 80.4% above last year. The 2020 total is 3.62 MMT, up 126.2% from a year ago with two months remaining.

--- provided by Brugler Marketing & Management 

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