11/30/15 was only up 0.05 to 55.70. The surge in the ZZZs this morning has them premium to the component by +3.80 with nine more days until we go to cash settlement. Obviously traders are expecting packers to be anxious to buy hogs this week and next. The six-day moving average carcass weight eased to 213.68#. That is -2.28# yr/yr. That is still high enough to suggest that producers still have plenty of hogs in their barns and the kill is in line with the last H&P report.

It's probably a good thing, Chuck, that retailers are doing what they can to move the product.

Ka!! Ching!! Just got a long K/M spread off my boat and by the time I got back from the bank the market had dumped another one onto me. It isn't often that I get to make a round-trip with the K/M spread in one day!

This morning I was too timid to sell anymore of the Z/G spreads when the busted out of the starting gate to the upside. I have enough of them on my boat that I don't really need any more.

Best wishes,

dhm