7/8/19 was down -0.51 to 70.96. The NNNs are now trading premium to the component by +0.84.

The 6-day moving average carcass weight eased to 210.96#. That is +3.52# yr/yr. Index hogs were also lighter at 210.66#. Packer hogs are lighter than the non-packer hogs by -0.60#.

"The Market" has decided the NNNs were beaten down too low and they, along with the Index will now head higher. I am not sure the index will rally in time to save the NNNs. But they might.

Best wishes,

Doc