8/16/19 was down -0.51 to 78.35. The VVVs settled discount to the component by -14.33. The model calculates that packers' margins have now fallen to $13.91. There is widespread expectations that packers are going to be hacking away at their bid prices big time.

The six-day moving average carcass weight firmed to 208.6#. That is +0.34# yr/yr. Packer hogs are lighter than non-packer hogs by -0.29#. Index hogs were a bit heavier at 208.36#.

Best wishes,

Doc