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The swine scheduled for delivery report - - -

shows that packers have 6.45% more hogs scheduled than on this date last year. There is no let up on the increased kill rate and the hogs continue to be heavier than one-year ago.

From the noon reports the Hog Pricing Model projects that the Purchase Index for today will -1.18 and the component on today's kill will shed between -0.85 and -1.15.

The model is now projecting that the cash settlement index for the GGGs will be 61.34 with a range of 60.84 to 61.84. When the GGGs rallied, I took profits on two of the long GGGs I added this morning. I now have orders working to buy four at 60.90.

I continue to cling to the short JJJs, KKKs, MMMs and NNNs I have piled on. If I had the moxie of Dewey I would have been selling more all the way down.

Best wishes,

dhm

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The swine scheduled for delivery report - - -
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