Hog futures are trading lower at midday, sharply lower in the front months. The hog market didn't fare well after seeing the morning's export report as it was disappointing to see that China wasn't among one of the largest buyers. Pork net sales reported were up 49% from the previous week and 8% from the prior four-week average. The three largest buyers were Mexico, Japan, and South Korea. The market's run of weaker pork cutout prices alongside a disappointing export sales report has traders leery of the market and they're unwilling to support the market for the meantime.
Cash hog prices are lower on the National morning report and the morning cutout value is higher.
The Canadian Dollar is trading lower against the US dollar at midday.
For the week ending June 18, the Western Hog Exchange OlyWest 20 weekly price is $2.64/kg dressed, the OlyWest 21 weekly price is $2.71/kg dressed, and the BP4 price is $2.44/kg dressed. This is Kerrie Simpson reporting from the Western Hog Exchange.