6/6/17 was up $0.53 and the model projects that the component on yesterday's kill will scoot up between +0.25 to +0.55. The up-trend seems about right to close the "Gap" (that settled last night at 3.26) without the MMMs having to cough up anything. With their higher bids, packers were able to purchase 92.7% of the moving average purchases of Index hogs. It just might be that Index hogs are in fairly tight supply. If there is much of a holiday demand surge/ that "Gap" will most likely be closed with the INdex moving higher.

I'm still long the MMMs.

Best wishes,

dhm