Transcript
Hog futures are trading lower as the market is disappointed in the morning's export report. Pork net sales of 21,800 mt for 2024, a marketing year low, were down 54% from the previous week and 47% from the prior 4-week average. The three primary buyers were Mexico, China, and Japan. Although midday pork cutout prices are trading higher, which is positive, the complex is still trading lower as the market's enthusiasm seemed to disappear.
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 Apr 19, the Western Hog Exchange OlyWest 20 weekly price is $2.22/kg dressed, the OlyWest 21 weekly price is $2.33/kg dressed, and the BP4 price is $2.13/kg dressed. This is Kerrie Simpson reporting from the Western Hog Exchange