7/6/16 WAS down -$1.18 and the model projects that the CME Index component will shed between -0.50 and -0.80. It appears that packers still have some more expensive hogs to bring to market that will hold the index up a little.

Packers made a solid purchase at 113.9% of the moving average daily purchases. Producers are keeping very current in their shipments.

Best wishes,

dhm