7/25/16 was down -0.99 to 75.16. The six-day moving average carcass weight dipped to 208.83#. Index hogs are lighter at 207.47#. Undoubtedly hot weather is slowing hog growth way down. Packer hogs were +0.39# this morning.

Packers drove the component down somewhat more than the model projected but the model did point once again to a significant down move. The burst of strength in the QQQs just now did not seem to be fundamentally justified so I got short on one.

I would like to buy or sell some spreads but my bid/offer is not the same as the market's .

Best wishes,

dhm