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The CME component on the kill for - - -

6-29-15 was down -0.26 to 77.19. The NNNs are now trading discount to the component by 1.49 with ten more trading days until we get to cash settlement. With ten trading days left for the NNNs, the "Gap" can easily close from either a move in the index or a move in the NNNs.

The six-day moving average carcass weight dipped to 211.48#. That is -2.26# compared to last year but +6.55# compared to 2013. Pork production continues to be at a high level. Packers are continuing to finish their hogs somewhat heavier than non-packers.

The Q/V spreads are giving me a little breathing room today. I had orders waiting to load my boat a little more, but the bounce come before there was more life left in the dip.

Best wishes,

dhm

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The CME component on the kill for - - -
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