5/21/19 was up +0.04 and the model projects the component on yesterday's kill will change in the range of +0.15 to -0.15. Packers ended up bidding a bit higher in the afternoon and saw the number of hogs they thought they had purchased dwindle down a little.

They ended the day purchasing 99.5% of the moving average daily purchases of total hogs and 97.5% on the INdex hogs.

Pre-opening has June opening a bit weak this morning. Considering the fundamentals, seeing the MMMs open weaker fits the way I am sizing up the fundamentals. If there is a bounce in the MMMMs today, I will sell more.

Best wishes,

Doc