6/11/19 as down -0.33 and that is unchanged from the afternoon Purchase Index. The model still projects the component on yesterday's kill will drop between -0.25 and -0.55.

Yesterday packers purchased 93.5% of the daily moving average total purchases and 98.5% on the Index hogs. Producers are continuing to be willing sellers and they seem to have plenty of hogs to sell.

Luckily the calendar spreads have been treating me really well - almost well enough to make up for what the long futures are taking away.

Best wishes,

Doc