12/6/19 was UP +0.65 AND THE MODEL PROJECTS the component on Friday's kill will be up between +0.05 and +0.25. That is not nearly enough to put the component on a trajectory to close the "Gap" by the time the ZZZs go to cash settlement.

With their higher bids packers purchased 144.0% of the moving average daily purchases of total hogs and 130.9% on the index hogs. Those are very large numbers.

Best wishes,

Doc