" . . . year to year comparisons never seem to make much sense at the time a contract is in the early stages."

I look at them seeking a hint about supply and my read is that there is no hint that any expansion producers may have done is NOT bringing more hogs to market yet. Furthermore, I doubt that any sign of expansion will show up as an increase in the kill rate anytime in the next two weeks to four weeks.

My bias may change when I see the H&P report today.

Best wishes,

dhm