with their population of 4.5 times as many people as the U.S. , were to each eat an extra slice of bacon a day, that would take a boat load of pork.

From the noon reports the model projects that the Purchase Index for today will drop -$0.98 and the component on today's kill will shed between -0.70 and -1.00. That will just about be enough to put the VVVs at a premium to the component when the numbers come together tomorrow. Considering the "Gap" we had, it is quite amazing to see it closed already. If the last H&P report was fairly close to what producers actually have, it is going to be a while before we have a limit-up move that sticks.
A limit move, up or down, that is technically/emotionally driven can occur at any time. We almost had one of them last week but it is slowly being taken apart this week.

Best wishes,

dhm