It´s no morph, I think. Breasts falls down naturally. Excuse my poor english.
actually you made me look at it closely again, and I have to say that I think this may be a morph after all.
it's a good morph, but if you look around the hands (a classic area for morphs to 'show') you can see some artifacts. basically just sloppy edges, mainly where the outer sides of the thumbs are. especially on the right (our right, as viewer), there's a little bar of flesh along the edge of the breast up to the arm, which looks a bit unnatural. and on the other thumb, there's a slight artefact where the thumb meets the hip. in a real life photo that should form a sharp angle, but here it's a tiny 'arc', with a very thin (maybe 1 pixel thick) band of darker skin along the edge of the thumb for a ways.
all of which leads me to think that the pic is likely altered.
but not altered "a lot"... there's no real loss of detail in it.
and of course the logo at the bottom of the page is blurred out, so it's clearly been in a photo editing software at some point.
having a "natural sag" is not any indication of whether a pic has been morphed or not. that's purely up to the esthetic tastes of the morpher.