Transcript
Hog futures are trading lower at midday as traders seem uncertain in challenging the market's resistance any further until support from fundamentals strengthens. Aside from today's higher midday carcass price, the carcass has been mostly trading lower this week, and while traders are appreciative of today's gain, they also want to see stable consumer demand.
Cash hog prices on the National morning report are higher, the morning cutout value is also higher.
The Canadian Dollar is trading lower against the US dollar at midday.
For the week ending Nov 15, the Western Hog Exchange OlyWest 20 weekly price is $2.25/kg dressed, the OlyWest 21 weekly price is $2.38/kg dressed, and the BP4 price is $2.20/kg dressed. This is Kerrie Simpson reporting from the Western Hog Exchange