Hog futures are trading lower after a negative Export Sales report. Pork net sales of 27,100 mt for 2025 were down 47% from the previous week and 14% from the prior 4-week average. The three primary buyers were Mexico, Japan, and Colombia. It's been a tough fundamental week for the lean hog complex. Couple the dip in consumer demand with this morning's export report, and it's no surprise that the contracts are trading lower into today's noon hour.
 
Cash hog prices on the National morning report are lower, the morning cutout value is also lower.

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

For the week ending July 4, the Western Hog Exchange OlyWest 20 weekly price is $2.74/kg dressed, the OlyWest 21 weekly price is $2.82/kg dressed, and the BP4 price is $2.63/kg dressed. This is Kerrie Simpson reporting from the Western Hog Exchange