Lean hog trading moved the board in both directions on Tuesday. The nearbys added to midday losses closing down by 22 to 87 cents. The back months faded the midday losses and ended the session 5 to 55 cents in the black. The CME Lean Hog Index for 11/06 was $71.13, a penny higher. USDA’s National Average Base Hog price for Tuesday afternoon was 59 cents lower, at $60.34. The November pork production estimates from USDA’s monthly update has 2020 production at 28.181 billion lbs. October’s forecast was for 28.157 billion. USDA lowered 2021 production by 25 million lbs to 28.485 billion by the way of a 505m cut in Q2 partially offset by a 310 bump in Q3. The National Pork Carcass Cutout value was $2.71 lower in USDA’s PM report, at $82.98. USDA’s Tuesday FI hog slaughter was 493k head. With 986,000 head killed WTD, the week’s slaughter is even with last week’s pace.

— provided by Brugler Marketing & Management