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Market Commentary: Wednesday, January 17/18

Transcript

Cash hog bids are called steady to $1 per cwt lower; most bids are steady to 50 cents lower in early trade. Prices are lower on the National and on the Iowa Minnesota morning reports; the cutout value is slightly higher.

Hog futures at midday are trading lower in all months. Light to moderate losses continue to be seen in futures trade, although prices have moved significantly from the sharp early losses seen during the first hour. Front-month futures continue to hold a $1.30 per cwt loss, although the rest of the market remains focused on potential market stability through the end of the week. The overall lack of direction in the market could cause prices to shift in a moderate range over the near future.

The Canadian dollar is trading higher against the US dollar.

For Wednesday, January 17, the Western Hog Exchange OlyWest price is $1.600/kg dressed and the OlyWest plus price is $1.610/kg dressed.This is Kerrie Simpson reporting for the Western Hog Exchange.

Forward Contracting at Christmas/New Years

Re: Forward  Contracting for the holiday shortened weeks of December 24, 2017 to January 6, 2018

 

Dear Western Hog Exchange Producers,

Please be advised that due to the 3 day week during the Christmas break and 4 day week of New Years, Forward Contracting limits have been reached.  No further Forward Contracts will be taken for those weeks.

 

We recommend talking to Olymel Hog Bookings, early to schedule your loads.  It may be advisable to ship early if that is possible for your operation.  They can be reached at: at (403) 343-8700 or 1 (877) 488-8700 ext 5281 or ext 5287.