This graph shows the U.S. reference price that is used in the base formula to determine the Ontario market hog contract prices. As of the end of April 2009, the average U.S. reference price was $58.21 versus $56.20 as of the end of April 2008. The data source for the U.S. reference price has changed at various times. Currently (since May 2003) the CME constructed price is used as the U.S. reference price which is calculated from the daily LM-HG201 USDA report. The five year average (2004 to 2008) U.S. reference price is $66.87.

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Ontario - US Monthly Hog Market Facts