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Lean Hogs See Big Spec Long Confirmed
Alan Brugler - BRUG - Mon Oct 26, 7:22AM CDT

After trading in the red at midday, Friday hog futures closed 2 to 82 cents higher. May futures stayed 32 cents in the red at the close. For December hog futures, that reduced the week’s loss to $2.78. The CME Lean Hog Index for 10/21 was $78.60, 9 cents weaker. USDA’s National Average Base Hog price was $59.55 on Friday, down by $1.27. Through short covering on the week ending 10/20, managed money extended their lean hog net long to 42,058 contracts. USDA’s National Pork Carcass Cutout value was a sharp $5.59 lower Friday at $93.25. USDA estimated FI hog slaughter at 2.679 million head for the week through Saturday. That was down 11k yr/yr, but YTD slaughter still has a 1% lead over 2019’s pace.

--- provided by Brugler Marketing & Management

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