10/20/16 kill dropped 0.52 to 52.23. The "Gap" has now closed to -10.34 with the ZZZs at a discount to the component. When the 201 report came out showing the degree the component dropped, the ZZZs took a turn to the south.

The six-day moving average carcass weight firmed to 211.36# with both the packer and non- packer hogs jumping about 1/4#. Index hogs were also heavier at 210.35#. Packer hogs are now heavier by +1.74#. Year over year hogs are -0.63#.

With the kill continuing to come in firm and carcass weights climbing, there is not much to yet suggest that a "Hole" is developing. It is doubtful that the climbing carcass weights suggest producers are getting behind in their shipments. This is just what happens when the weather gets cool and fresh corn begins to roll.

I scalped out of the extra ZZZ pig I sold this morning. Will sell again if the rebound now continues.

This really looks like good fishing weather for ITZ.

Best wishes,

dhm