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Lean hog futures finished mixed on Monday, with front-month contracts rising while deferred contracts declined. The USDA national base hog price and CME Lean Hog Index fell, while the pork carcass cutout edged higher; slaughter was above both last week and the year-ago level.
Higher slaughter alongside weaker cash hog prices points to ample pork supply relative to demand, weighing on hog prices. The modestly higher cutout offers only limited counter-support.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.