8/5/15 was up +0.09 to 79.13. The sell-off in the QQQs now has them discounted to the component by -0.63. That may be appropriate or it may not. With the mild upward trend we are seeing in the index, my bias is that the QQQs got beat down too much today. So I have now probed the long side at 78.60. So far so good.

The 6-day moving average carcass weight firmed to 209.84 this morning. It was mostly the packer hogs that were heavier.

Best wishes,

dhm