7/31/15 was down 0.31 to 78.53. This seems to reverse the very short lived up-trend the started last week.

The six-day moving average carcass weight eased again to 21.22#. It is now -3.54# year/year but +7.21# over 2013.

Looking at the strength of the QQQs, my thoughts are that some demand has surfaced from someplace. We'll see.

Well, ITZ, you didn't pick my pockets today because I wasn't short. I wasn't long either as far as that goes.

Best wishes,

dhm