Hogs Face Continued Weakness on Monday
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Lean hog futures experienced losses ranging from 32 cents to $1.55 at Monday's close. The USDA reported a national base hog price of $94.44, up $1.90 from the previous day. The CME Lean Hog Index fell by 11 cents to $91.30. The pork carcass cutout value decreased by 23 cents to $97.36 per cwt. Estimated federally inspected hog slaughter was 490,000 head, an increase of 6,000 from the prior week and 9,118 from the same week last year. May, June, and July hog futures closed down $1.200, $1.525, and $1.550 respectively.
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