10/8/15 was up +$0.06 and the model projects that the component on the 10/8/15 kill will move up somewhere in the range of +0.05 to +0.35. It appears that the up-trend is still intact and there are only three more days of data to get us to cash settlement on the VVVs. Since the VVVs settled discount to the component by -0.88, it seems to me that there may be a little bounce of a point or so coming to the VVVs.

The kill last week was a bit weaker than projected from the LAST H&P report. Packers were able to make a very solid purchase of hogs on Friday at 115.1% of the moving average daily purchases but they bid a little higher to get them.

My broker sent me a not telling me I should get out of my long VVVs, but I might just go to cash settlement with them.

Best wishes,

dhm