MURICO.com Forum

The afternoon Purchase Index for - - -

6/11/19 was down -0.33 and the model projects the component on Tuesday's kill will drop between -0.25 and -0.55. The down trend is still intact.

With their lower bids packers were able to purchase 88.5% of the moving average daily purchases of total hogs and 86.9% on the index hogs. Producers seem to have plenty of hogs and they are plenty willing to sell them. This is the time of the year when there is generally mild strength in the CME Lean Hog Index as packers begin buying hogs for the Independence Day demand surge. So far it looks like there are too many hogs and too much pork this year for this demand surge to move the Index upward.

est wishes,

Doc