Hog futures are trading lower in all months as traders remain skeptical of the United States economy amid the prospect of an extended period of high borrowing costs around the world, and don't see enough immediate support in today's market to justify trading the contracts higher. It's likely that the market sees this pressure through closing and looks to Friday's market, or even next week's market, for direction and a way to move forward. Pork net sales for 2023 were up 31% from the previous week and 1% from the prior 4-week average. The three largest buyers were Mexico, South Korea, and Canada.
Cash hog prices on the National morning report are unavailable; the morning cutout value is lower.
The Canadian Dollar is trading lower against the US dollar at midday.
For the week ending Sep 22, the Western Hog Exchange OlyWest 20 weekly price is $2.10/kg dressed, the OlyWest 21 weekly price is $2.28/kg dressed, and the BP4 price is $2.11/kg dressed. This is Kerrie Simpson reporting from the Western Hog Exchange