final Purchase Index will be late. From the afternoon reports the model projected the component on yesterday's kill would be down between -0.15 and -0.45.
The component on the 10/23/19 was down -0.50 to 65.24. The CME Lean Hog Index is now in a down trend and I wonder how much of it will spill over into the summer futures. Yesterday I was pleasantly surprised at the degree to which the boat load of calendar spreads cushioned my margin against a major hit when everything went south.
Now to see what today brings.
Best wishes,
Doc