5/24/16 was down -$0.15 and the model projects that the component on yesterday's kill will change in the range of -0.05 and +0.25. Packers still have an inventory of more expensive hogs that will be supportive of the index for a couple of days. With the holiday coming up packers are not wanting to purchase a many hogs and they didn't yesterday.

They bought 88.5% of the moving average daily purchases.

Not surprising since retailers have (or should have) their cases full for the holiday shopping spree. Bellies took quite a beating yesterday. The BLT season needs to get here to light a little fire under the bellies.

I have had so many spreads ring the till the last few days that my bigger-boat is riding high in the water. Maybe I didn't really need the bigger boat but when you keep making progress it just leaves you with a bigger boat to have to manage.

Best wishes,

dhm