Hog futures are trading lower at midday. The July contract is down 2.4%, bringing the contract below 76 cents a pound, after shedding 4.4% yesterday. The contract is now down to its lowest level in seven months, and traders are unsure of where the selling will end. Until the futures complex establishes some sort of a bottom in this market, continued dramatic downward pressure is likely.
Cash hog prices on the National morning report are lower, the morning cutout value is higher.
The Canadian Dollar is trading higher against the US dollar at midday.
For the week ending May 26, the Western Hog Exchange OlyWest 20 weekly price is $1.91/kg dressed, the OlyWest 21 weekly price is $2.00/kg dressed, and the BP4 price is $1.93/kg dressed. This is Kerrie Simpson reporting from the Western Hog Exchange