same way - no reason for hogs to go up other than this is the hog market and needs no reason.

- Cutouts posted another significant loss

- Packers were bidding lower for hogs yesterday

- The afternoon reports showed that producers sold fairly strong numbers in spite of the lower bids packers threw at them

- The 6-day moving average carcass weight crept a tad higher

- The CME Index component to ZZZ spread appears to be headed for aboout (I spelled that for Farmer Ed) 7.50 down from the near-20 we saw a couple of weeks ago.

All of these things give me a mildly bearish bias.

I find generally when I get a directional bias, the market moves in the opposite direction so I suppose we will see the ZZZs jump come Monday.

Best wishes,

dhm