10/16/19 was up +1.02 to 65.43. The ZZZs settled premium to the component by +2.45. Cutouts took quite a hit dropping -1.44 and packers' gross margins on the Index hogs dropped to $23.05/Index hog. That is not the stuff which causes packers to bid higher for hogs.

The six-day moving average carcass weights firmed to 212.32#. That is + 1.24# yr/yr. So far we are not seeing much of a fall weight surge like we often see when weather cools and fresh corn begins to fill the feeders. Index hogs were also a bit heavier at 212.39#.

The model projects the component on Thursday's kill will be up between +0.10 and +0.40. That projection will change when we get the final Purchase Index in the morning.

My margin suffered yesterday. I don't need a repeat of Thursday's market action on Friday.

Best wishes,

Doc