11/2/15 was down -1.37 to 69.46. The ZZZs are now trading discount to the component by -11.56. That should be enough to provide some degree of support to the ZZZs but don't bank too heavily on it! There is a lot of time before we get to cash settlement.

The six-day moving average carcass weight was down nearly 1/3# and both packer and non-packer hog were down about that same amount. Maybe the kill is going to be down a little. That could help support prices.

I have been able to flip a few spread trades this morning but the scalps I attempted blew up on me.

Best wishes,

dhm