11/5/15 crashed by -1.89 to 63.69! This has closed the "Gap" to -8.79 with the ZZZs being at a discount.

The six-day moving average carcass weight moved up to 213.45#. That is -1.96# yr/yr. Is it possible that the low kill rate over the past ten days has been packers slowing down their chain speeds and there is now going to be a rush of hogs trying to get out of producers' barn doors? That could enable packers to really cut their bids. The fact that packer hogs are holding such a weight edge over non-packer hogs indicates that packers are not killing their hogs any faster than they are killing the non-packer hogs.

I was able to get one Z/G spread to the bank this morning. I would like to move out a couple of long V6/Z6 spreads this afternoon.

Best wishes,

dhm