3/23/18 was down -1.06 and the model projects that the component on Friday's kill will fall between -0.70 and -1.00. The free-fall is continuing and mostly will continue to fall for at least two more days. Packers purchased quite large numbers on Friday getting 118.2% of the moving average daily purchases of Index hogs and 141.7% of total hogs. I;m suspecting that producers are becoming anxious sellers and packers may now have prices pushed down to a level where that are building their inventory of purchased hogs.

Best wishes,

dhm