did not release the numbers on yesterday's slaughter so the USDA was not able to get the 201 report out.

Packers have been bidding higher for negotiated hogs and bringing in quite large numbers. The negotiated hogs are priced somewhat below the formula hogs so a larger kill of negotiated hogs will tend to depress the component.

And I wonder, "Is there any significance to the fact that packers are bidding higher for negotiated hogs and bringing in larger numbers of them?"

Best wishes,

Doc