6/3/19 was unchanged and the model projects the component on yesterday's kill will drop between -0.2. and -0.50. Packers still have an inventory of less expensive hogs that should weigh on the component today.

Packers purchased 115.1% of the moving daily average of total purchases and 114.9% on the index hogs. Those are large numbers for a Monday. Packers may be buying hogs for the Independence Day holiday and producers were willing to sell a even money.

It was refreshing to see primal cuts show some strength yesterday.

Best wishes,

Doc