1/28/19 was down -0.05 and the model projects that the component on yesterday's kill will decline between -0.05 and -0.35. This is the fourth consecutive down day for the component but the last two have been very small down days and I ask myself, "Is this a hint that the down trend is about to end?"

On Friday with their lower bids, packers made a very large purchase. Yesterday they did not - on total hogs they purchased 95.6% of the moving average purchases and on index hogs it was lower at 84.0%. The GGGs opened this morning discount to the component by -0.54.

Now I must mind the store.est wishes,

Best wishes,

Doc