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The CME Lean Hog Index component on the kill for -

10/17/19 was +0.42 65.85. The ZZZs settled premium to the component by +2.00.

The 6-day moving average carcass weight moved up to 212.57#. That is +1.11# yr/yr. Index hogs were also heavier at 211.80#. Looking at the kill rate and the carcass weights, I think producers are quite current in their shipments and we are now seeing cool weather and fresh corn finishing hogs more quickly, thus the increase in carcass weights.

The data continues to suggest we are still looking for the Hog Cycle high and it may be a while in coming. If we are to realize the 69% spike in the CME Lean Hog Index comparable to what the Chines have already received, the model is projecting the summer futures will rise to the 105 to 107 level. So I am have piled some summer futures onto my boat that I am HODLing and when there is a dip I add some more as scalpers. This morning I have been able to cash in some scalpers carried over the weekend.

Best wishes,

Doc

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The CME Lean Hog Index component on the kill for -
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