Lean Hogs Lower
February Lean Hogs are trading at 70.62, down 0.90. April Lean Hogs are down 0.72 at 74.20. Trading is expected to be very choppy.
Chatter that February Hogs will stay near 68.00 to 71.00 into February is making the rounds. The port strike news was friendly. More talk that exports have fallen as a portion of production to under 20 percent and that the long-term trend has shifted.
Weekly chicken data is up 3 percent from last year. Hog slaughter last week was up 4.6 percent from last year and pork production was up 5.8 percent.
USDA pork cutout after Wednesday's close was $80.20, down $1.10 and down from $85.77 last week.
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