9/23/19 was down -1.09 and the model projects the component on yesterday's kill will drop between -0.70 and -1.00. The chase is still on looking for the seasonality low on the CME Lean Hog Index.

Packers purchased 110.6% of the moving daily average purchases of total hogs and 97.2% on the Index hogs. Hogs are moving well.= so well that packers were able to cut their bids significantly yesterday.

Best wishes,

Doc