1/28/2020 was up +0.68 to 62.73. It appears the GGGs are going to settle premium to the component by +1.57. A lot of the "Gap" closing has come about by the GGGs drifting lower. Packers' gross margins have now fallen to $29.02/index hog.
The 6-day moving average carcass weight eased to 2216.63#. That is +1.22# yr/yr. Index hogs were a bit heavier at 214.57#. Packer hogs were heavier than non-packer hogs by +3.33#.
It is highly likely the coronovirus in China is disrupting the movement of goods including food stuffs and this will have a negative impact on consumption and importation of American pork.
The long summer futures are doing significant damage to my margin.
Best wishes,
Doc