4/13/18 was up 0.60 and the model projects that the component on Friday's kill will be up between +0.20 and +0.50. This will be the other 50% of the cash settlement index. If it comes in a bit above the model's projection at say +0.70, the model shows that the cash settlement index will be about 53.75 making the shorts JJJs I took to cash settlement a worthwhile activity.

Packers were busy buying hogs Friday getting 127.8% of the moving average daily purchases of total hogs and 108.3% on the index hogs.

Best wishes,

dhm