February hogs closed sharply higher on the session yesterday, rising to the highest level since November 7th. The hog market traded sharply lower early in the session based on continued weakness in the pork market and additional weakness in the cash market over the past few days. A negative trend for cash hogs and another set-back in pork product prices to the lowest level since June 7th helped to keep December futures under pressure. However, the outlook for a seasonal peak in production followed by a decline in pork production into the first quarter helped to support February hogs this week. A sharp break in cash belly prices and weakness in loins this week were seen as pulling pork values lower again yesterday. Pork cutout values released after the close yesterday came in at $88.67, down $1.40 from Monday and down from $91.33 the previous week. Weighted average cash prices for Iowa/Minnesota direct hogs were at 81.91, up 64 cents on the session. The CME Lean Hog Index as of November 11th came in at 86.29, down 79 cents from the previous session and down from 89.47 the week before. The estimated hog slaughter came in at 432,000 head yesterday. This brings the total for the week so far to 862,000 head, up from 860,000 head last week at this time and up from 850,000 head a year ago.