8/24/15 was down -0.05 to 78.76. The VVVs are now discounted to the component by 11.69. On average over the past 19 years it has been in the 15 point range so it does not seem to be very much out of line if any. The question is, "How will it close come 10-14-15?"

That is so far into the future that the Hog Pricing Model is of relatively little value in projecting a price.

The six-day moving average carcass weight continued the gentle decline that began on 6/5/15 when the weight was at 214.23#. It is now down to 209.31# which is -3.03# year/year. It is +5.36# over 2013 so pork production is still quite high. It appears to me that demand is strong enough to keep packers margins in quite good shape. That may take away some of the pressure that packers sometimes feel to cut their bid prices.

I tried a couple of scalping trades on the VVVs this morning and they didn't work so I am waiting for a new day.

Best wishes,

dhm