9/13/18 was up 1.17 to 52.44. The VVVs are now trading premium to the component by 4.08. The model shows that it will take and average daily gain of +0.155 over the next 20-days to close that "Gap". If demand keeps surging, that will happen.

The 6-day moving average carcass weight firmed to 209.19#. That is -1.80# year/year. Packer hogs are now +1.51# heavier than the non-packer hogs. Index hogs were steady but a bit lighter at 207.82#. Packers seem to have a bigger appetite for hogs than producers are willing to sell at these prices and I am being surprised with the gains the component has posted the past couple of days.

Best wishes,

dhm