10/1/15 was up +$0.29 and the model projects that the CME Lean Hog Index component on the 10-1-15 kill will be up between +0.15 and +0.45. The up-trend seems to be alive and well. In fact so much so that I think there is a fair chance that the index will gain enough to nudge the VVVs up a little by the time we get to cash settlement. With the VVVs now trading premium to the component by 0.43, it will take a little doing for the Index to push the VVVs up.

The strength in the futures is most welcome this morning since I am mildly long.

Best wishes,

dhm