3/21/19 was once again firmly up; this time by 2.35 and the model projects the component on yesterday's kill will move up between +1.50 and +1.80. The JJJs are trading premium to the component by an unimaginable +17.27!!

With the higher bids, packers only purchased 71.8% of the moving average daily purchases of total hogs and 96.8% on the Index hogs.

I am still HODLing the deferred contracts but thinking of lightening up.

Best wishes,

Doc