6/6/16 was up +$0.52 and the model projects that the CME component on yesterday's kill will rise between +0.25 and +0.50. There are only 6 more trading days left for the MMMs and that makes the 4.40 "Gap" loom quite large. I'm thinking about selling an MMM pig if the pre-opening firm bids hold up when the market opens.

With their firm bids yesterday, packers made a good purchase at 104.4%$ of the moving average daily purchases. Producers seem to be willing sellers and the firm 6-day moving average carcass weights may be indicating that their inventory of hogs is ample. Demand also seems to be holding up well with cutouts being up nearly a buck yesterday.

Best wishes,

dhm