report shows that packers have 98K fewer hogs scheduled than on this date last week and 56K fewer than on this date last year. Every day last week the CME Index component was up. The fact that fewer hogs are scheduled in the face of higher bids suggests that the supply of market ready hogs is tightening up a little.
I suspect that retailers have their cases filled for the Independence Day demand surge. I'm wondering, "Will demand remain firm enough to push hog prices up or will we see the Index drop a little as it usually does following the holiday-induced demand surge?"