Hog futures are trading mixed in a narrow range at midday. Traders continue to focus on the upcoming Hogs and Pigs report, which will be released this afternoon. The expectation is that overall hog numbers will see a 2% reduction from year-ago levels. A move in this range should not be a significant market mover as traders continue to focus on slightly lower hog herd sizes until the middle of 2022. Significant shifts in farrowing intentions through the end of the year will likely be an indicator of any sizable market adjustments in the near future.
Cash hog prices are higher on the National morning report and the morning cutout value is also higher.
The Canadian Dollar is trading lower against the US dollar at midday.
For the week ending September 24 the Western Hog Exchange OlyWest 20 weekly price is $2.13/kg dressed, the OlyWest 21 weekly price is $2.26/kg dressed, and the BP4 price is $2.13/kg dressed. This is Kerrie Simpson reporting from the Western Hog Exchange.