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Good Morning, Dewey. The afternooPurchase Index

was down -0.07 and the model projects the component on yesterday's kill will change between +0.10 and -0.20. By the time the afternoon reports were released packers had purchased 71.8% of the moving average daily purchases of total hogs and 90.7% on the index hogs. That is a rather low number on the total hogs. The kill this week is coming in very large at +9.77% over the same period last year. This seems to be giving us more pork than the retailers were wanting to fill their cases or the holiday and the cutouts slumped by -1.82.

The NNNs settled premium to the component by +2.14. On average the seasonality high for the Index has been set on July 1st. I don't think that will happen this year. It will probable either come in August or it already came on May 17th.

China still has an ASF problem that has not yet begun to impact world pork prices but it undoubtedly will at some point. Now to make sure my boat does not get swamped in the mean time.

Best wishes,

D.H.

Messages In This Thread

The CME Lean Hog Index component on the kill for -
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Good Morning, Dewey. The afternooPurchase Index
Re: Good Morning, Dewey. The afternooPurchase Ind
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Good Morning, Tim, if - - -
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