MURICO.com Forum

The CME Lean Hog Index component on the kill for -

2/21/2020 was up +0.18 to 55.98. The JJJs are trading premium to the component by +8.92. Packers' margins have moved up to $19.48 per Index hog.

The 6-day moving average carcass weights moved up to 215.61#. That is +0.01# yr/yr and that is essentially unchanged. Index hogs were a bit lighter at 214.34#. The percentage of packer hogs in the kill mix moved up up to 41.6#. Packers seem to be shipping hogs at a more brisk clip. Packer hogs are +3.31# heavier than the non-packer hogs suggesting that packers are not very current in their shipments.

The stock market is being hammered today and money seems to be flowing into Bonds in a big way. This uncertainty is spilling over into the hog market. We need to export a lot of pork "The Market" is thinking today that exports are going to be negatively impacted in a big way. I am staying the course today.

Best wishes,

Doc