The CME Lean Hog Index component on the kill for -

1/25/18 was down -0.45 to 58.04 and the GGGs are trading premium to the component by +0.26.

The 6-day moving average carcass weight firmed to 215.67#. That is +1.04# yr/yr. Index hogs are a bit lighter at 214.39#. Packer hogs were nearly 1/2# heavier and non-packer hogs were nearly 1/2# lighter. Packer's are bringing their hogs to market +3.50# heavier than the non-packer hogs and they are continuing to ship lots of hogs. Over the last 200-days packer hogs have made up 34.66% of the kill and over the past 6-days packer hogs were 35.7%. One year ago the 6-day moving average packer percentage was 32.7%. That is a gain of 3.0% in one year.

The down draft in hog prices is not quite so severe today, Dewey. I suppose we could be near the bottom. At any rate, I am ready for them to bottom-out!

Best wishes,