an analyst.

Nor would I.

I post a lot but mostly I lay out numbers as I see them. My posting is an exercise in self-discipline. If I review the data carefully enough to make a post, sometimes my trading goes a little better.

Generally speaking I do better trading the hog calendar spreads than the out-rights. And that is the way it is turning out today.

The noon reports may be suggesting that packers are bidding a little lower again today. The model is currently projecting that the Purchase Index for today will be down -$0.79 and the component on today's kill will drop between-0.35 and -0.65.

And the JJJs are up nearly a point!

Of course there are two more batches of reports to come out before we get to the final Purchase Index so a lot can change by the time we get the morning reports tomorrow.

Best wishes,

dhm