because the USDA has not posted the morning reports. From the afternoon reports the model was projecting a very strong up move in the component on yesterday's kill. That would consistent with the firm prices of the primal cuts that jumped 0.81 yesterday. The final Purchase Index does not always follow the afternoon reports but I think it will be fairly close today. Packers seem to have quite an appetite for hogs at these lower prices. It appears that the export trade is quite strong.

Best wishes,

dhm