Hog futures trading lower at midday in spite of positive fundamentals and a lack of hogs. Due to continuing demand, packers are actively looking for hogs and it's apparent in the market's cash spread that finding market-ready hogs in some regions is far harder than in others. Traders will most likely let the market float throughout the rest of today and will look to the beginning of next week to set the market's tone.
Cash hog prices are lower on the National morning report and the morning cutout value is higher.
The Canadian Dollar is trading lower against the US dollar at midday.
For the week ending June 11, the Western Hog Exchange OlyWest 20 weekly price is $2.52/kg dressed, the OlyWest 21 weekly price is $2.62/kg dressed, and the BP4 price is $2.39/kg dressed. This is Kerrie Simpson reporting from the Western Hog Exchange.