3/6/19 was up +0.11 and the model projects the component on yesterday's kill will change between +0.10 and -0.20. That's not much change. Yesterday the component was only down -0.04 to 51.83. It "Feels" like a bottoming action may be taking place. The JJJs settled premium to the component by +5.25. Obviously "The Market" thinks brighter days are ahead for the producers.
Packers purchased 95.5% of the moving average daily purchases of total hogs and 91.0% on the index hogs. Carcass weights continue to dribble lower. Yesterday the 6-day moving average carcass weight eased to 215.09# and packer hogs were +4.63# heavier than the non-packer hogs.
Yesterday I piled another long April 20 future on my boat and will add more is we dip more.