6/1/17 was up $0.58 and the model projects that the component on yesterday's kill will be up 0.25 to 0.55. The MMMs settled premium to the ccomponent by 3.98. The model calculates that the component will need to gain an average of 0.41/day to close that "Gap". With another holiday coming up, it just might happen.

With their higher bids, packers were able to purchase 97.2% of the moving average daily purchases of index hogs.

I'm still long the MMMs but did take profits on a couple of MMMs this morning and will buy them back on a dip.

Best wishes,

dhm