11/24/15 kill was up +0.03 to 55.64 so the ZZZs are trading premium to the component by +3.24. That is not an insignificant premium!

But -

The down-trend does seem to be coming to an end and the index can move quite a bit rather quickly in the right environment.

The six day moving average carcass weight moved up to 214.05# this morning. That is only -1.29# yr/yr. Heavy hogs means a lot of pork is being produced and the cold storage shows quite a bit of pork is in storage. I bought a ZZZ this morning and am going to keep it until Friday but I am not very bullish,

Best wishes,

dhm