7/29/19 was up +0.22 and the model projects the component on yesterday's kill will be up between +0.50 and +0.80. The QQQs are trading premium to the component by +2.60. The model calculates that the component will need to gain an average of +0.21/day to close the "Gap".

With their higher bids, packers purchases 100.3% of the daily moving average purchases of total hogs ad 83.52% on the index hogs.

Yesterday was not a pretty day for us hog bulls and today may be shaping up to be even worse.

Best wishes,

Doc