Transcript
Hog futures continue to trade lower as the market worries about consumer support this summer. Yesterday's lukewarm export sales report is also slightly affecting traders as they were hoping to see strong sales which would have boosted the market's morale. Midday pork cutout values are higher, but traders are looking at the market through a broader, long-term perspective. Pork belly cutouts are down in recent days, with demand seen as stagnant in recent months. It leaves that market well-supplied going into the summer, and tempering upside enthusiasm compared to last year.
Cash hog prices on the National morning report are unreported, the morning cutout value is higher.
The Canadian Dollar is trading lower against the US dollar at midday.
For the week ending Apr 26, the Western Hog Exchange OlyWest 20 weekly price is $2.26/kg dressed, the OlyWest 21 weekly price is $2.37/kg dressed, and the BP4 price is $2.22/kg dressed. This is Kerrie Simpson reporting from the Western Hog Exchange