7/1/15 was down -0.16 to 76.96. The NNNs are now trading premium to the component by about a point. Traders now seem to have decided that packers are going to be upping their bids prices a bit. That is consistent with what the data seems to be telling me.

The six-day moving average carcass weight was mostly steady this morning at 211.33#. That is down from 213.55# on 6/1/15 and is is -2.52# year/year. Packers are continuing to finish there hogs a couple of pounds heavier than the non-packers. This tells me that packers are happy to kill big hogs. As I have said before, there is no problem with a heavy hog that a sharp knife can't solve.

Ka! Ching!!

Ka! Ching!!

Ka! Ching!!

Ka! Ching!!

Ka! Ching!!

Ka! Ching!!

Ka! Ching!!

Ole Nellie is not nearly as low in the water now and a dip would be most welcome so I can take on a few Q/V spreads. I do have enough left to make life interesting if they head higher. These Q/V spreads may be even more interesting than the K/Ms have been. Now if I can make the Z/Gs work I can have Christmas three times a year.

I can plainly see now that I should have taken on even more of the Q/V spreads on Monday but it is mighty hard to be a bull when the streets are running RED with the bulls' blood!

Best wishes,

dhm