8/13/15 was up more than projected at +0.25. That puts the component on the 8/13/15 kill at 78.66 and that represents 50% of the cash settlement Index for the QQQs. In order for the cash settlement index to jump to 79.05, today's index needs to jump by 0.79. Looking at the way packers have been bidding for hogs lately, it just doesn't seem likely that they will throw that much at hogs today. They already have a fair sized inventory of hogs purchased at lower prices that are going to be making their way to the packing plants. I don't think I will need to worry about my boat load of short QQQs over the weekend.

The six-day moving average carcass weight eased to 209.47#. That is -402# yr/yr. Both packer and non-packer hogs were lighter in weight. I think hot weather is slowing the rate at which hogs finish.

Best wishes,

dhm