shows that packers have 97K fewer hogs scheduled for delivery than they had on this date last week. On a yr/yr basis they have 150K fewer hogs scheduled. That's a decline of 6.74%.

But -

There is another bit of data that may be significant. The number of hogs purchased this morning was nearly twice as large as it was on most days last week. The lower prices may be causing large numbers of hogs to head for the barn door. It just might be that a lot of producers are becoming motivated sellers as they watch the price of hogs begin to crumble.

From the noon reports it appears that packers are still cutting their bids. The model projects that the Purchase Index for today may be down about $0.26 and the component on today's kill will shed something like -0.20 to -0.50.

Best wishes,

dhm