7/1/16 was down -0.58 at 83.52. With the NNNs also dropping the "Gap" remained steady with the Index premium to the NNNs by 1.47. Packer hogs made up an extremely large daily percentage of the daily kill at 42.68%. I find it interesting that packers are bidding lower and running their hogs through the plants at a rapid clip. Maybe they want to get their hogs to market before the price drops further. But cutouts are holding up and that appears to me where they would be focused rather than on the price they are paying for hogs in the market place.

I continue to think packers are insiders compared to the rest of us..

The six-day moving average carcass weighs firmed a little to 209.42#. Packer hogs continue to be heavier at +2.08# over the non-packer hogs and Index hogs are lowest of all at 208.19#. Hog are coming to market more than two pounds lighter than they were one-year ago. Perhaps this means that producers are anxious about the number of hogs in the pipeline so they are staying very current in their shipments.

Best wishes,

dhm

hat I have ever seen