10/4/17 was up +0.60 and the model projects that the component on yesterday's kill will scoot up between +0.20 and +0.50. The VVVs are now trading premium +6.56 over the component. The model calculates that the component will need to jump an average of +72 cents per day for the next 8-days to close that "Gap". The component has been up the last two days and the average of those two days is a +16.3 cents. It may be a stretch for the component to tack on that much to close the "Gap" and the VVVs may have to participate in the "Gap" closing by giving up a point or so.

Packers purchased 90.7% of the moving average daily purchases of total hogs and 94.5% of index hogs.

Best wishes,

dhm