10/1/19 was, as expected, quite a bit higher than the afternoon Purchase Index being up +0.29 and the model projects the component on yesterday's kill will move up between +0.15 and +0.45."

With their higher bids packers purchased only 71.0% of the daily moving average purchases of total hogs and 96.7% on the Index hogs. The data seems to suggest that producers are very current in their shipments. This could foster a bump-up in the index over the next few weeks. Apparently "The Market" is expecting the Index to show some strength because it has the VVVs trading premium to the component by +5.42

Best wishes,

Doc