market. There is so much uncertainty relative to the supply of pork due to the PED virus that once they start moving, the emotions really get things going. I have been scaling in and out of the Q/V spreads today. Can't remember when I have seen the spreads as active as they were this morning. They have now gone quiet.

I'm not surprised to see the VVVs and ZZZs limit down, but I am surprised the the GGGs are also.

Unless there is a report, limit moves in hogs usually don't hold so I suspect you will get the bounce you need to take profits and get out of the ZZZs.

Best wishes,

dhm