dynamics are very, very different this year and it is especially the demand side that is different. The hungry mouths of the world have bid cutouts up to 101.09. Last year on this date they were at 87.08. That is quite difference.

The noon reports showed that packers were bidding higher again today. The model is now projecting the the component on today's kill will jump another +0.75 to +1.05. I keep trying to skinny into my bear skin coat but it just doesn't quite fit. Maybe next week when the Independence Day demand surge passes but then we have BLT season. The sky belly prices may dampen demand..

Best wishes,

Doc