3/27/19 was up +2.26 and the model projects the component on yesterday's kill will jump between +1.70 and 2.00. The JJJs are trading premium to the component by +10.10. The model calculates that it takes an average daily gain of +0.81 to close that "Gap". Over the past 7-days the component has gained an average of 1.93 per day. There is a good chance that the average will move up a little today when the 201 report comes out.

With their higher bids packers purchased 79.7% of the moving average daily purchases of total hogs and 96.1% on the Index hogs.

I am scratching my head wondering why the summer futures dipped so much this morning. It seems totally out of harmony with the data that is coming in.

So-

I piled four more summer futures onto my boat and have orders to buy more if the dip continues. I think it is an emotional move based on fear of what the H&P report might say. In the past I have tried to project what might be expected from the H&P report but quite trying due to time constraints.

Best wishes,

Doc