2/10/2020 was down -0.24 to 57.79. The GGGs are trading discount to the component by -1.92 with four days of data to get us to cash settlement. If today's change to the component is an indication of how the component is going to behave the rest of this week, then we will most likely see the GGGs move up a notch by the time they go to cash settlement..

The six-day moving average carcass weight eased to 216.04#. That is +0.97# yr/yr. On 1/10/2020 the 6-day moving average carcass weight was 218.32#. If the decline in the 6-day moving average carcass weight is telling us that the high kill lately is the result of hogs being pulled forward, then we may see the kill rate take a significant drop in a few weeks. INdex hogs have also shown a decline in carcass weights. They are now down to 213.80# after touching 216.33# on 1/13/2020.

Best wishes,

Doc