9/29/16 was down -0.61 to 56.51. That put the VVVs discount to the component by -7.48 at the close. My model says that is too wide but it may change its tune after the H&P report comes out in a few minutes.

Once again the kill was very large this week at +7.3% over the same week last year and that comes on the heels of a +8.02% yr/yr increase last week. This large kill does not seem to be pulling hogs forward. I say that because the 6-day moving average carcass was just a slight bit heavier and relative to last year it is -0.05# and it had been running a couple of pounds lighter. Relative to 2014, carcasses are now +3.12#. That adds a lot of pork.

Packer hogs are about a pound heavier than non-packer hogs and Index hogs bring up the rear at 209.50#.

Best wishes,

dhm