5/3/16 was UP +$0.63 and the model projects that the component on the 5/3/16 kill will move up between+0.50 and +0.80. A lot of "Gap" gets filled with daily gains like that.

Even though packers had their bids up, producers will not falling all over each other to sell hogs. Packers only purchased 93.7% of the moving average daily purchases. I'm suspecting packers will be bidding firm until they get their kill needs met for the Memorial Day holiday trade.

Best wishes,

dhm