7/21/17 was diown -0.77 to 90.75. Packers came up with a train load of cheap hogs that had not shown up in the purchase index. The QQQQs are now trading discount to the component by -10.05.

The six-day moving average carcass weight was steady at 207.39#, That is -1.30# yr/yr. Producers seem to be staying current in their shipments. Packer hogs are -1.60# lighter than non-packer hogs and index hogs are firm at 207.71#. Packers have been running their hogs to market at a rapid clip. Maybe to beat the fall decline in prices??? The percentage of packer hogs in Friday's kill was lowest percentage I have seen for a while.

So far today the data has done very little in solving the riddle as to where CME Lean Hog Index is headed as we move toward the cash settlement for the GGGs other than to tell us that packers are bidding lower - - - and Friday itr was a LOT lower.

Best wishes,

dhm.

3 lighter than non