8/18/16 was down -0.32 to 67.08. The VVVs are now discounted to the component by -6.43. Traders continue to expect packers to take quite a bit more off their bids and they usually do this time of the year. The six-day moving average carcass weight was up a little at 207.26#. That is -2.10# year/year. It appears that producers are continuing to ship hogs quite aggressively. That is most likely a great idea with a higher kill just around the corner and cutouts in the doldrums.

Packer hogs are now coming to market slightly lighter than the non-packer hogs -0.03#. That is not much but it does represent reduction in market hog inventory by the packers.

I'm not getting much done today. Mostly just waiting for a trading set-up that doesn't happen.

I do have a bunch of T-Bond options that are expiring today and the premium stays in my bank account.

Best wishes,

dhm