6/4/19 was up +0.05 and the model projects the component on yesterday's kill will drop between -0.20 and -0.60. Packers probably have an inventory of cheaper hogs purchased that will drag the component down on yesterday's kill.

With their firm bids, packers purchased 82.4% of the moving average daily purchases of total hogs and 88.2% on the index hogs. Produces are willing sellers.

We may be getting close to seeing the component begin to move up as we approach the Independence Day Holiday. I expect only a mild move up until exports begin to click in,

Best wishes,

Doc