Transcript
Hog futures are trading higher within a narrow trading range with most contracts unable to move out of the single digit gains. The underlying support in pork values and continued focus on further loss potential in grain markets seem to have buyers hovering on the sidelines. Limited trade volume is likely to be seen through most of the morning.
Cash hog bids are expected $1 lower to $1 per cwt higher, with most bids steady to 50 cents higher. Prices are higher on the National morning report and the morning cutout value is lower.
The Canadian Dollar is trading lower against the US dollar at midday.
For the week ending Feb 5, the Western Hog Exchange OlyWest 20 weekly price is $1.494/kg dressed, the OlyWest 21 weekly price is $1.683/kg dressed. This is Kerrie Simpson reporting from the Western Hog Exchange.