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Canadian Dollar Hurts Hog Outlook

U. S. hog prices are expected to show some improvement over the next year, but that strength won’t be felt in Canada where foreign exchange rates will continue to hamper the industry, said market analyst Steve Dziver, of Phoenix Agri-Tec Inc. in a presentation at the Canadian Wheat Board’s annual Grain World conference in Winnipeg, Feb. 23.

Dziver said the currency exchange rate between the two countries is the largest factor in determining Canadian values. He said U. S. hog prices would be profitable in 2010, but any profitability on the Canadian side will require better risk management and a strategy to deal with the strong Canadian dollar. He noted it was hard for Canadian hog producers to be profitable with a Canadian dollar above 90 U. S. cents.

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Phil Franz-Warkentin - MarketsFarm

Phil Franz-Warkentin writes for MarketsFarm specializing in grain and commodity market reporting.

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