9/5/19 was down -0.21 and the model projects the component on yesterday's kill will drop between -0.80 and -1.10. The VVVs are trading discount to the component by -0.21. It did not "Feel" like the VVVs should have been premium to the component so I have been a tiny bit short theVVVS.

Packers purchased 89.8% of he daily moving average daily purchases of total hogs and 94.1% on the Index hogs. Packers were not wanting hogs very badly yesterday.

Best wishes,

Doc