6/5/19 was down -0.38 and the model projects the .on yesterday's kill will drop between -0.30 and -0.60. The MMMs settled discount to the component by -0.84. Traders are thinking that the component will fall enough to pull the MMMs down with it.

Even though packers were bidding lower, they still managed to purchase 96.6% of the moving average daily purchases of total hogs and 92.5% on the Index hogs. Producers are seemingly quite anxious to get their hogs marketed.

Best wishes,

Doc