6/24/15 was down -0.41 to 78.42. That puts the NNNs discount to the index component by -3.69. As is so often the case, the model quite accurately projected the range of the change in the CME Lean Hog Index component.

The six-day moving average carcass weight was steady at 212.14#. That is -2.11# yr/yr but +6.85# over the same date in 2013. Pork production is moving along at a high clip and packers are finding it a challenge peddle all the product they are producing. It appears that it is the export trade that is a significant part of the problem.

Best wishes,

dhm