10-6-15 was up 0.48 to 74.53. The soaring index just keeps pushing the VVVs higher and higher. But the futures are not quite keeping up with the Index consequently they are trading discount to the component by -0.53. My feeling is that this sets the stage for being long the VVVs.

So I am - just a little.

Now here is a word of advise: Generally when I develop a directional bias, I'm a good fade.

The six-day moving average carcass weight firmed to 210.83#. The kill so far this week is falling below projections from the H&P report. I would be getting concerned that producers are getting behind the curve in shipments if this were January but this is the time of the year when hogs finish rapidly so I am scratching my head and wondering, "Did the USDA miss a little on the high side in their hog count?"

Piece by piece the incoming data should answer that question.

My boat is not riding nearly as high in the water as it was this morning. I have piled on a bunch of short V/Z spreads with the last going on at 8.30. I had more orders working at 8.35 but the other traders did not want to go there. Now I am ready to start to take them off.

Ka! Ching!! There went one!

I have plenty more to go. For me that is. It wouldn't be much of a load for Dewey.

Best wishes,

dhm