6/13/19 was unchanged and the model projects the component on yesterday's kill will be down between -0.10 and -0.40. Cutouts tacked on +0.50. That was not enough to send packers scurrying to find hogs.

Packers purchased 90.81% of the daily moving average of total hogs and 96.2% on the Index hogs.

I piled a couple of long MMMs on my boat to take to cash settlement and I am now wondering why I thought that might be a good idea. WAs also able to go to the bank with a bunch of short N/Q calendar spreads.

Best wishes,

Doc