8/10/15 was UP +0.09 to 78.84. The QQQs are now trading discount to the component by -1.84. With four more days of data to come in and the index trending up mildly, it just feels like being long is the way to be but the trend is not strong enough for the model to make a call. I have a trio of long QQQs that I may take to cash settlement if they don't "Pop" enough to take me out.

Scalping the QQQs has worked a bit for me this morning. Nothing big, just enough to pay the rent and that counts for something.

The six-day moving average carcass weight did what it always does this time of the year - it drifted a bit lower to 209.43#. Non-packer hogs were quite a bit lighter but packer poked a lighter heavier. It just feels like packers are expanding their production relative to the non-packers. Last year I felt packers suffered a bit more from the PED problem. They may have responded by retainng a few more gilts and we are now seeing the results.

Best wishes,

dhm