MURICO.com Forum

The final Purchase Index for - - -

7/25/18 was down -0.52 and the model projects that the component on on yesterday's kill will fall between -0.60 and -0.90. We are still headed down and is quite a hurry.

With their lower bids, packers only purchases 80.5% on total hogs and 82.2% on the index hogs. These are the lowest numbers I have noticed for a while. Now is not the time to back hogs up a little. Packers are not letting their hogs back up; they are shipping in a hurry as measured by the falling carcass weights of packer hogs.

I am still watching for a dip in the summer '19 futures to buy more. When I woke up and realized where we were on the Hog Cycle, I should have loaded my boat in a hurry with the MMMs , NNNs, and QQQs. But I did get some bought. It is probably not too late to buy more but I would rather buy the dip than the rally. It is not yet clear to me that we have seen the trough in hog prices yet and the MMMs, NNNs, and QQQs could be cheaper at the "Trough".
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Best wishes,

ddddhm