shows that packers have 253K more hogs scheduled that they had on this date last year. That is 11.29% more than one-year ago. With weights increasing along with higher numbers than one-year ago, it is beginning to smack of some expansion having taken place especially on the packer side of the equation.

From the noon reports the model is projecting that the Purchase Index for today is going to be quite weak. I have heard Farmer Ed mention that getting hook space during the holidays can be a challenge. With cut outs being weak along with the heavy carcass weights and ample scheduled numbers, packers may be hurrying some of their hogs to market in anticipation of run on hogs after the holidays.

In looking at the kill since 12/1/14 it is running 1.45% less than projection from the 9/1/14 H&P report. That really does not smack of expansion.

Getting new numbers tomorrow is going to be a good idea.

Best wishes,

dhm