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In weighted average negotiated prices for barrows and gilts, USDA reported;

  • National carcass base was $1.26 higher to $70.01/cwt.
  • National live was up 22 cents to $55.30.
  • Iowa-Minnesota carcass base rose $1.42 to $70.83.

USDA reported carcass cutout values this afternoon fell 98 cents to $89.21/cwt.

“A firm tone for pork cut-out values in the US and a surge in pig prices from China helped to support the market into the mid-day,” the Hightower Report said. “A limit-down move in cattle helped to spark the lower opening and helped to hold December hogs lower into the mid-session. Pork cut-out values at mid-session came in at $93.37, up $2.93 on the day.”

“The China National Pig Index was up 2.57% last night, and is now up 7.1% for the week, up 14.3% for the month and up 64% year-to-date,” Stewart-Peterson said. “China should start to become a major player for pork imports on the world markets sometime soon, but until the U.S. can push a steady stream of pork to other countries, near-term direction looks choppy.”

This article originally ran on agupdate.com.

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