MURICO.com Forum

The final Purchase Index for - - -

11/19/14 was down -$0.07 and the model projects that the change in the CME LEAN HOG INDEX component on the 11-19-14 kill will fall in the range of -0.1. AND +0.20. That is not much change.

Packers made only a fair purchase yesterday at 87.6% of the moving average daily purchases. This is the second day of weak purchases and yesterday the number of hogs scheduled was 115K lower than the same day last week. Packers seemingly not needing hogs very badly with cutouts continuing to be weak and the hogs don't seem to be particularly plentiful. I say that because the kill rate is weak and carcass weights are falling - not exactly a sign that producers have a lot of hogs they are needing to move to market.

The ZZZs are premium to the index by 1.28. That represents quite a bit of closure of the gap in the past couple of days.

I am flat any out rights but have plenty of spreads to keep my occupied.

Best wishes,

dhm

Messages In This Thread

The final Purchase Index for - - -
Re: Well DH, my confidence is slipping
My confidence if pretty good, ITZ. I am - - -
Re: I made my choices and don't regret
As I watch the numbers, ITZ, I get - - -