5/13/19 was up +0.14 to 83.35 and that is right in line with the projection from the Model. The MMMs are now trading premium to the component by +6.63. This is one WILD market and that may be the case for quite a long time as we try to get our arms around what is happening in the world's largest producer and consumer of pork.

The six-day moving average carcass weight eased to 215.4#. That is +1.28# yr/yr. Index hogs were also lighter at 213.94#. Packer hogs are only 2.64# heavier than the non-packer hogs. Packers have been running hogs to market at a hefty pace and they seem to be getting more current in their shipments. On the kill yesterday, packer hogs dipped by 2/5#.

Best wishes,

Doc