11/2/15 was UP +$0.84 and the model projects that the CME LEAN HOG INDEX component on the 11/2/15 kill will jump by something in the range of +0.70 to 1.00. It appears that packers are still trying to get their cost of carcasses down to where the primal cuts have fallen. Cutting their bids is one thing that packer know how to do!!

I have nearly a boat load of long G/J spreads and had an order working to buy another at -5.15 but the market decided to not go there this morning. Maybe later.

I'm wondering if the lower-than-expected kill last week means that producers have a few less hogs that projected. This week needs to be another low-kill week to give any confirmation. At any rate, it was good news to see the cut outs post a positive number yesterday. Now to see if we get a repeat today.

Best wishes,

dhm