9/14/18 was up a whooping +2.05. The model projects the component on Friday's kill will jump between +1.25 and +1.55. The VVVs settled premium to the component by +3.78. The model calculates that the component will need to rise by +0.185 per day for the next 20-days to close that "Gap". That number will drop if the surge the model is projecting comes to pass today.

Still long the summer futures.

Packers purchase 138.8% of the moving average of total hogs and 114.1% on the index hogs.

Best wishes,

dhm