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The CME Lean Hog Index component on the kill for -

1/11/18 was up +1.41 to 70.54. That has cut the "Gap" too +0.81 with the GGGs at a premium to the component. The "Gap" got closed in a hurry this week.

Relative to the heavier carcass weights, ITZ and Dewey, I think it is partially because packers want the efficiency of killing heavier hogs. Packer hogs are continuing to run heavier than non-packer hogs. The cut out reports represents just a small fraction of the daily pork production. Packers know how much product they have forward priced and they have a better idea of the number of hogs in producers barns than we. There is a fair chance that packers are finishing hogs to heavier weights to get the pork they need when the usual spring/summer decline in the kill rate hits.

Best wishes,

dhm

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The CME Lean Hog Index component on the kill for -
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