1/17/17 was up $1.01 and the model projects that the component on yesterdeay's kill will jump between +0.60 and +0.90. This up-trend just goes on and on in spite of the bearish H&P report.

Packers did not get a very good purchase yesterday with their sweetened bids just 79.9% of the moving average daily purchases. That could set the stage for higher bids again today.

The pre-opening is pointing to a igher opening and that seems to be in harmony with the data. I'm still quite long (for me that is) and I may take some profits if we get a point or so jump because I expect a dip of a point or so at some point today and I will re-load on the dip. Fundamentally there does not seem to be any reason for a dip but that is the way the hogs market behaves.

Best wishes,

dhm