8/10/15 was down -$0.35 and the model is projecting that the CME Lean Hog Index component on the 8/10/15 kill will change somewhere in the range of +0.05 to -0.25. It looks like there will probably be a touch of weakness but only mild.

Yesterday packers made a fair purchase at 96.3% of the moving average daily purchases and they did this with mildly lower bid prices.

The QQQs settled discount to the component by -2.10. After today there will be four more days of data to get us to the cash settlement index for the QQQs. My bias is that traders have beaten the QQQs down a little too much and they will add a little by cash settlement.

So-

I am mildly long the QQQs. If we get a dip, I will add more. If we get a "Pop" I will sell and buy back if it is followed by a dip.

Finally sold my last Q/V spread yesterday. I had an absolutely great ride on the long Q/Vs. I'm now trading the V/Zs from the short side. It has worked a little for me but right now I have taken profits on all the spreads and am looking for a dip to reload my boat.

Best wishes,

dhm