1/11/17 was up an even buck to 62.35. That keeps the up trend in place that began on 1/5/17. I thought packers would be able to buy hogs a bit cheaper after the holidays with producers being backed-up because of the holidays but it is not turning out that way. The surge in the component and the drop-off in the GGGs has closed the "Gap" to 2.70 with the GGGs premium to the component.

The six-day moving average carcass weight is stead at 213.58#. That is -1.78# yr/yr. Packers are continuing to finish their hogs heavier by 4.81#. The only reason I can come up with for packers to be finishing their hogs heavier is because they want more pork and that seems to me to be a bullish sign. Index hog are a bit lighter at 212.98#

Best wishes,

dhm