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Lean Hogs (P) Futures PricesTuesday, May 22nd, 2012Current Prices | End-of-Day Prices | Options Quotes | Spread Quotes | Profile
Lean Hogs are trading lower with short term technical indicators overbought. The CME lean hog index for 5/18 was $83.23, up $1.21 from the day before. The pork carcass cutout value was supported by a strong performance by the loins with all the other cuts lower yesterday afternoon. Pork trading this morning is slow with mostly light demand and light to moderate offerings. Loins are steady to weak with Hams lower and other cuts not yet tested. Estimated daily slaughter was on the high side at 418,000 head, vs. 397,000 the same day in 2011. Cash hogs in IA/MN were trading $1.52 lower than the previous day early this morning. The consumer price index in China incorporates about 30% of food prices into their index. Food prices declined from the previous week helping to ease inflationary pressures. Jun 12 Hogs are at $86.350, down $0.350,
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