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Lean hog futures ended 30 to 70 cents lower on Friday after gapping 30c lower to start the day. That reduced Feb’s weekly gain to $1.90. USDA’s National Average Base Hog price was 53 cents weaker for Friday afternoon, to $44.96. The CME Lean Hog Index was 31 cents higher on 1/10 to $66.77. The weekly CoT report showed managed money reduced their net short in lean hogs via short covering during the week that ended 1/9. The group was 6,589 contracts net short as of Tuesday’s settle, the 8th consecutive week with a net short. USDA’s monthly pork production outlook raised the 2023 total by 60 mill…

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