5/8/15 was UP +$1.19 AND the model projects that the CME Lean Hog Index component on the 5/8/15 kill will be up between +1.05 and +1.35. The model is now projecting that the cash settlement index for the KKKs will be 81.76 with a range of 81.26 to 82.26. There are five more days of data to get us to the cash settlement index and the strong Purchase Index is a strong clue that the up trend is intact.

It appears that packers are going to be following the very oft seen pattern of bidding aggressively for hogs leading up to the Memorial Day holiday surge in demand. Generally there will be a little weakness in the Index following this holiday driven demand surge.

If we get the slightest dip in the KKKs this morning, I will buy again. I have enough of them on my boat that I can sell a couple on a nice rally.

Best wishes,

dhm