5/19/15 was up (barely) +$0.04 and the model projects that the CME Lean Hog Index component on the 5/19/15 kill will be up between +0.15 and +0.45. Packers still have an inventory of more expensive hogs that are yet to come to market and this will give some support to the component.

Strong cutouts suggest demand is firm.

BEST WISHES,

dhm