Transcript
Hog futures are trading higher into Wednesday’s noon hour. June and August lean hogs are up while July lean hogs are down. The main reason why the spot July contract is trading lower is because traders are beginning to move their positions from June to July and the market's resistance at $102.00 remains a threshold traders aren't confident, they can conquer at this time.
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 June 5, the Western Hog Exchange OlyWest 20 weekly price is $2.27/kg dressed, the OlyWest 21 weekly price is $2.36kg dressed and the BP4 price is $2.30/kg dressed. This is Pat Matthezing reporting from the Western Hog Exchange.