3/19/15 was down -$0.55 and my hog pricing model projects that the component on yesterday's kill will drop between -0.45 and -0.75. It appears that the downtrend is still at work.

Packers made only a fair purchase yesterday at 87.0% of the moving average daily purchases. They really didn't need to purchase a lot of hogs yesterday. The swine scheduled for delivery report yesterday showed that packers had 21.5% more hogs scheduled than on the same date last year. This tells me that producers are highly motivated sellers of hogs and they have ample numbers to sell.

This aggressive selling of hogs by producers has moved them into a super current position. The six-day moving average carcass weight dipped to 214.42# yesterday. That is -0.06# lower than the same date last year. All of this decline in carcass weight was from Packer hogs. The non-packer hogs were actually up 0,23# from the prior day.

I just sold a ZZZ pig at 62.325 and have another order working to sell again at 62.85.

Best wishes,

dhm