8/24/16 was up +0.02 to 67.05. The VVVs are now trading discount to the component by -8.00. That means it will take an ITZ ten point addictive move to close the "Gap". Packers know how to do that

The six-day moving average carcass weight firmed to 207.44# this morning. That is -1.98# yr/yr. Both packer and non-pacaker hogs were a little heavier. Packer hogs are now -0.13# under the non-packer hogs and Index hogs are lighter at 207.01# but the "Gap" is not a large as it was earlier.

How wrong I was to get a little long earlier this morning. I loaded a couple of long J/K spreads onto my boat this morning. They are now for sale at -5.70 is someone wants them.

Best wishes,

dhm