Hog futures are trading lower on follow-through pressure and futures have now moved through initial support levels. A close at these levels will offset recent market support and could open the door for additional underlying pressure over the next two weeks. Although limited stability is starting to emerge in cash and pork values, the lack of buyer support in the futures market may test further market lows over the upcoming days.
Cash hog prices on the National morning report are lower, the morning cutout value is higher.
The Canadian Dollar is trading higher against the US dollar at midday.
For the week ending October 22 the Western Hog Exchange OlyWest 20 weekly price is $1.95/kg dressed, the OlyWest 21 weekly price is $2.15/kg dressed, and the BP4 price is $1.99/kg dressed. This is Kerrie Simpson reporting from the Western Hog Exchange.