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Market Commentary: Wednesday, April 25/18

Transcript

Hog futures are trading mixed, moderately higher from May to October. Early pressure seen in hog futures has eased at midday after the morning cutout report showed wholesale prices ticking higher, mainly pushed up by a jump in pork belly prices. Nearby contracts are hovering between 10 and 45 cents per cwt higher with the focus on market activity and trade volume through the rest of the complex. Pressure in deferred contracts continues.

Cash hog price range is expected to be steady to $1 lower; most bids are seen steady to weak. Cash prices are higher on the National and unreported on the Iowa Minnesota morning reports. The cutout value is higher. 

The Canadian Dollar is trading lower against the US dollar at midday. 

For Wednesday, April 25, the Western Hog Exchange OlyWest price is $1.441/kg dressed and the OlyWest plus price is $1.451/kg dressed. This is Kerrie Simpson reporting from the Western Hog Exchange.