9/14/18 was up +1.77 to 54.21. The VVVs are now trading premium to the component by only 1.89. It only takes a daily gain of +0..085 over the next 19 days to close that "Gap". It appears that packers are having a little trouble getting their hogs to market. It may be Florence in North Carolina that is the problem. The surging component may be the wind under the wings of the October hogs that will cause then to fly higher.

The 6-day moving average carcass weight moved up to 209.31# and it was the packer hogs that got heavier. Hogs are -1.86# year/year. Even though there is a slump in the kill rate this week, it appears that producers are quite current in their shipments. Index hogs were also a bit heavier at 207.9#.

Best wishes,

dhm