8/1/18 was down again; this time by -1.13 and the model projects the component on yesterday 's kill will drop between -0.95 and -1.25. The QQQs are trading discount tot he component by -9.40. Packers may have been accumulating an inventory of purchased hogs that is cheaper so we may see a bigger than projected drop one of these days.

Packers purchased 104.1% of the moving average daily purchases of total hogs and 109.7% on the index hogs. Hogs are being shipped at a rapid clip..

Best wishes,

dhm