7/24/19 was up sharply by 1.44 and the model projects the component on yesterday's kill will soar again this time by something like +0.9. to +1.20. As the day wore on yesterday, packers' appetites became insatiable and they were throwing money at hogs like there was no tomorrow.

Packers are buying good numbers. Yesterday they purchased 98.1% of the daily moving average of total hogs and 103.5% on the index hogs. As is so often the case when the weather get hot, carcass weights are declining and that cuts into pork production.

It is beginning to look more and more like the Index will be pushed up so high that it will not only close the "Gap" but actually go up enough to a push the QQQs even higher. I am suspecting that some how there is American pork going to China. I have no other explanation for the high price of the primal cuts.

I am wondering, is it too late to buy another QQQ pig? Dunno!!

Best wishes,

Doc