Hog futures are trading lower even though the market's fundamentals are positive. With cash prices higher, packers are buying up hogs and have intentions to run chain speeds so long as they have the pork to process. With hog futures lower and the market's fundamentals higher, it's a reminder that when the prices get as lofty as they are, choppy up and down trade is expected.
Cash hog bids are expected steady to higher. Cash prices are higher on the National morning report and the morning cutout value is also higher.
The Canadian Dollar is trading higher against the US dollar at midday.
For the week ending May 14, the Western Hog Exchange OlyWest 20 weekly price is $2.41/kg dressed, the OlyWest 21 weekly price is $2.40/kg dressed, and the BP4 price is $2.28/kg dressed. This is Kerrie Simpson reporting from the Western Hog Exchange.