Hog futures are trading lower at midday after hitting new highs in earlier trading. Continued higher prices for cutouts may eventually slow pork demand and reduce packer buying. Hog futures are overbought, which could trigger selling if there is any indication of fundamental price weakness.

Cash hog prices on the National morning report are higher, the morning cutout value is lower.

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

For the week ending Feb 6, the Western Hog Exchange OlyWest 20 weekly price is $2.10/kg dressed, the OlyWest 21 weekly price is $2.20/kg dressed and the BP4 price is $2.05/kg dressed. This is Kerrie Simpson reporting from the Western Hog Exchange.