6/23/15 was down -$0.38 and the model projects that the CME Lean Hog Index will fall between -0.25 and -0.55. I forgot to post the change in the CME Index yesterday. It was down 0.19 to 79.03. Currently the NNNs are trading discount to yesterday's component by 4.38. That discount will widen if the model's projection turns out to be correct. That is a fairly wide discount with the NNNs becoming very short term but the downtrend seems firmly entrenched and pork production is still high.

I just sold a pair of NNNs based on the strength of the downtrend.

Best wishes,

dhm