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Market Commentary: Tuesday, February 20/18

Transcript

Hog futures have posted a strong rally this morning as traders try to adjust to the recent market lows set last week. Strong gains have flooded into the hog futures complex. This is helping to sustain triple-digit gains in all markets. Additional support is likely to be seen through all the markets during the rest of the trading session with traders trying to take advantage of the aggressive losses seen last week.

Cash hog price range is expected to be steady to $1 lower with most bids expected to be 50 cents to $1 lower. Cash prices are lower on the National and on the Iowa Minnesota morning reports. The cutout value is significantly higher. 

The Canadian Dollar is trading lower against the US dollar this morning. 

For Tuesday, February 20, the Western Hog Exchange OlyWest price is $1.543/kg dressed and the OlyWest plus price is $1.553/kg dressed. This is Kerrie Simpson reporting from the Western Hog Exchange.