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Lean hog futures are called to open mixed as traders gauge the cash market.
Packers' profit margins have improved, but are still slightly negative.
The pork cutout value slipped 63 cents yesterday, but movement was strong at 121.04 loads. The cash market is expected to be mostly steady today, but some mixed undertones could develop due to varied demand.
February lean hog futures are trading at just under a $3 premium to the CME lean hog index, which is projected at $83.86. This signals traders still hold a slightly positive bias toward the cash market near-term.
*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.