Hog futures are trading lower in all months, posting noticeable price pullbacks as traders adjust positions following aggressive gains over the past two days. Underlying cash has not supported an increase, leaving traders taking profits on recently established long positions. Prices remain above last week's support levels and any price above these levels is expected to limit aggressive market liquidation in the near future. Trade is expected to remain sluggish through the end of the day.
Cash hog prices on the National morning report are delayed, the morning cutout value is higher.
The Canadian Dollar is trading higher against the US dollar at midday.
For the week ending October 22 the Western Hog Exchange OlyWest 20 weekly price is $1.95/kg dressed, the OlyWest 21 weekly price is $2.15/kg dressed, and the BP4 price is $1.99/kg dressed. This is Kerrie Simpson reporting from the Western Hog Exchange.