1/23/19 was down -0.65 and the model projects the component on yesterday's kill will drop between -0.10 and -0.30. The GGGs settled premium to the component by +2.31.

With their lower bids, packers purchased 85.5% of the moving average daily purchases of total hogs and 100.00% on the index hogs.

Packers' up/down, up/down bids are continuing.

Best wishes,

dhm