MURICO.com Forum

The final Purchase Index for - - -

6/14/19 was up +0.02 and the model projects the component on Friday's kill will drop between -0.05 and -0.35. Packers probably have some cheaper hogs purchased that will pull the component down a bit.

With their steady bids, packers were able to purchase 184.5% of the moving average daily purchases. That is about as large of a number as I have seen. The index hogs were 103.2%.

The Eastern Corn Belt hogs showed more strength than the other markets. I think the Eastern Corn Belt is where Smithfield purchases most of their hogs and it may be an indication they are wanting hogs for the export market. Now to see if it spills over to the other markets. It didn't help the Western Corn Belt or Iowa/Minnesota on Friday. They were on the weak side.

Best wishes,

Doc