1/29/2020 was up +0.11 to 62.83. The GGGs are locked limit down and that puts them discount to the component by -1.53. Being short the GGGs is about the only thing I have right in my accounts. Packers' gross margins declined to $18.42/index hog.

The six day moving average carcass weight firmed to 216.68#. That is +1.07# yr/yr. Index hogs were also heavier at 214.69#. Packer hogs were heavier than non-Packer hogs by +3.29#.

Best wishes,

Doc