5/23/19 was down -0.51 to 88.79. The MMMs are now trading premium to the component by +3.58. The MMMs have been trying to drop limit but are stalled right now down -2.15..

The 6-day moving average carcass weight firmed to 214.65#.That i +1.80# yr/yr. Index hogs also firmed a little to 213.97#. Packer hogs are only +1.93# heavier than the non packer hogs now. Packers seem to have really been deducing their inventory of market ready and near market ready hogs.

Best wishes,

Doc