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CME Lean Hog Contract Replaces Live Hog Contract

Livestock Update, February 1997

Cindy Wood, Animal and Poultry Sciences

With settlement of the December 1996 Live Hog contract, the Chicago Mercantile Exchange (CME) switches completely to the Lean Hog contract. There were several reasons for the change, not least being that 70 % of hogs are sold now on a grade and yield (carcass merit) basis. There are a number of differences between the two contracts, although the abbreviation (LH) will remain the same. Differences include

Lean Hog Contract Specifications

The Lean Hog Index is a two-day weighted average of lean hog values collected by USDA from the Western Cornbelt, Eastern Cornbelt, and MidSouth regions.

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