7/17/14 kill surprised me and dropped 0.75 to 133.41. Packers were able to bring in cheap hogs from someplace. The QQQs are now discounted to the index by 6.16.

In the face of dwindling beef supplies and reduced hog numbers due to the PED virus, I'm wondering if demand will remain firm enough to keep packers from cutting their bids for the next month.

Now I'm off to look at the 6-day moving average carcass weight. That may give a clue relative to whether the producers are keeping current in their shipments or not.

Best wishes,

dhm