e 2/19/2020 was stronger than projected being up +0.52 to 55.94. The JJJs are trading premium to the component by +10.71. We are now into the search for the seasonality high. The earliest it has shown up in the last eight years was on 5/20/15. That year from mid-February until the high was touched the index gained 21.29.

The 6-day moving average carcass weight was unchanged at 215.22# That is -0.39# yr/yr. m Index hogs were a bit lighter at 214.61#. Packer hogs are heavier than the non-packer hogs by +2.65. The supply of market ready hogs seems to be going down quite quickly.

Best wishes,

Doc