3/8/19 was way, WAY UP by +0.78 and the model projects the component on Friday's kill will be up between +0.20 and +0.50. The JJJs have surprised me and they are now trading premium to the component by an amazing +11.11!!
Packers purchased 114.8% of the moving average daily purchases of total hogs Friday and 118.9% on the Index hogs. Friday's are generally big purchase days. My feeling that the March wash out came early seems to be coming to pass.