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Market Commentary: Friday, April 20/18

Transcript

Hog futures have posted light to moderate moves through the morning with front month May contracts holding a 45 cent gain. The rest of the complex remains sluggish with losses holding through the market. Most trade is 20 to 50 cents per cwt lower as underlying pressure is seen in summer and fall contract months based on overall market uncertainty and demand concerns. 

Cash hog bids are called steady to $.70 lower. Limited pressure is seen through the entire complex with traders looking for additional longer term market activity to develop following Thursday's pullback. Cash prices are higher on the National and lower on the Iowa Minnesota morning reports. The cutout value is moderately higher at midday.

The Canadian Dollar is trading lower against the US dollar this morning. 

For Friday, April 20, the Western Hog Exchange OlyWest price is $1.297/kg dressed and the OlyWest plus price is $1.307/kg dressed. The OlyWest weekly price is $1.258/kg dressed and the OlyWest plus weekly price is $1.268kg dressed. This is Pat Matthezing reporting from the Western Hog Exchange.