5/31/19 was down -0.42 and the model projects that component on Friday's kill will drop between -0.30 and -0.60. The down trend in hog prices is continuing and may have a ways to go. Perhaps when retailers begin filling their cases for the Independence Day holiday, the down trend will be halted.

With their lower bids, packers were able to purchase 115.3% of the daily moving average purchases of total hogs and 109.0% on the index hogs.

Best wishes,

Doc