The afternoon Purchase Index for - - -

4/5/19 was up +0.07 and the model projects the component on Friday's kill will be up between +0.20 and +0.50. Packers probably have a small inventory of more expensive hogs purchased that will tend to be a little supportive of the component for another day or so.

By the time the afternoon reports came out Friday, packers had purchased 93.4% of the daily moving of purchases of total hogs and 98.7% on the index hogs. On the weekends these percentages are generally in the 120% range. I am suspecting that when we get the final purchase index Monday that it will show packers ended the day bidding a bit higher to bring in the number of hogs they usually purchase on Fridays. Hopefully the morning reports come out early enough on Monday so we have the final Purchase Index before the market opens.

Best wishes,