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LIVESTOCK-CME lean hogs firm on strong pork demand


7/20/2021
By Christopher Walljasper
CHICAGO, July 20 (Reuters) - Chicago Mercantile Exchange
lean hog futures gained on Tuesday on short covering and
continued firmness in the wholesale pork market, traders said.
August seems like its anchored by what’s going on in the
cutout, said Altin Kalo, economist at Steiner Consulting Group.
They’ve been surprised by the strength in the pork cutout.
CME August lean hog futures gained 0.525 cent to 105
cents per pound, while October firmed 1.650 cents to
91.025 cents.
Slaughter is expected to increase as supplies of
market-ready hogs increase moving into the fall, Kalo said.
Daily hog slaughter increased to 474,000 head on Tuesday, up ....

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