5/16/19 wasup +0.14 and the model projects the component on yesterday's kill will be up between +0.05 and +0.35. The MMMs settled premium to the component by +7.82.
With their firm bids packers purchased 87.0% of the moving average daily purchases of total hogs and 94.7% on the index hogs.
Shortly we will start the "Gap" closing waltz. With retailers probably now having their cases full for the Memorial Day holiday grill, a limit down move by the MMMs would not surprise me but I am not predicting it will happen.
Best wishes,
Doc