Western Hog Exchange Market Commentary, March 20th 2017
Hog futures are trading lower in all months. Firm losses have quickly developed through lean hog futures trade at midday as the overall lack of trade activity has continued to pressure the overall market. Nearby contracts have backed away from initial market pressure, but the overall lack of direction in the complex and unchanging market fundamentals are keeping most traders focused on narrow trading ranges within the current market boundaries.
Cash hog bids are called steady to lower today. Cash prices are lower on the National and unreported on the Iowa Minnesota morning reports. The cutout value is higher at midday.
The Canadian dollar is trading lower against the US dollar.
For Friday, March 17, the Western Hog Exchange OlyWest price is $1.662/kg dressed and the OlyWest plus price is $1.672/kg dressed. The OlyWest weekly price is $1.660/kg dressed and the OlyWest plus weekly price is $1.670/kg dressed. This is Pat Matthezing reporting from the Western Hog Exchange.