Western Hog Exchange Market Commentary, FEbruary 12th 2018

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Market Commentary: Friday, February 9/18

Transcript

Hog futures are trading lower in all months. Moderate selling activity has developed at midday, breaking away from the mixed trade seen over the last two days. Prices have quickly seen moderate price erosion as the softness in cash and pork prices has limited any additional future buying interest. Most contracts are holding losses of 40 to 60 cents per cwt as traders remain focused on the overall limited interest in the market.

Cash hog bids are expected to be 50 cents to $2 lower with most bids expected to be $1 lower. Cash prices are lower on the National and unreported on the Iowa Minnesota morning reports. The cutout value is lower at midday.

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

For Friday, February 9, the Western Hog Exchange OlyWest price is $1.653/kg dressed and the OlyWest plus price is $1.663/kg dressed. The OlyWest weekly price is $1.650/kg dressed and the OlyWest plus weekly price is $1.660/kg dressed. This is Kerrie Simpson reporting from the Western Hog Exchange.

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