7/23/19 was up 1.51 to 76.33. The QQQs are now trading premium o the component by +10.37. That is a huge "Gap" but the packers are throwing money at hogs like crazy. Packers' margins are in fairly good shape so they have the money to pull in hogs and they seem to be willing to spend it to get the hogs.

The 6-day moving average carcass weight eased again this time to 209.13#. That is +2.22# yr/yr. Index hogs were also lighter at 208.80#. Hot weather may be doing a number on hogs gains but higher bids may be bringing some younger hogs to market early. Packer hogs are now-0.77# lighter than the non-packer hogs. Packers have shipped a lot of hogs lately.

Best wishes,

Doc.