Hog futures are trading moderately higher on support from today's strong export report. Hopefully the Quarterly Hogs and Pigs report displays a bullish outlook for the upcoming quarters, which would undoubtedly add more support to the market. It's tough to say whether or not the market has established a new bottom after sinking to prices not last seen since mid-December 2021. Pork net sales for 2022 were primarily for Mexico, South Korea, and China.
Cash hog prices on the National morning report are lower, the morning cutout value is also lower.
The Canadian Dollar is trading lower against the US dollar at midday.
For the week ending Sep 30, the Western Hog Exchange OlyWest 20 weekly price is $2.34/kg dressed, the OlyWest 21 weekly price is $2.43/kg dressed, and the BP4 price is $2.34/kg dressed. This is Kerrie Simpson reporting from the Western Hog Exchange