9/15/16 was down -0.60 to 62.75. Packers rounded up some of their cheaper hogs to kill yesterday and that dropped the component to the max projected by the Hog Pricing Model. The VVVs are now trading discount to the component by -7.48.

The six-day moving average carcass weight has now moved up to 209.52#. That is only -0.85# below the same date last year. Perhaps the cooler weather is improving the rate at which hogs are finishing. I'm expected even faster gains when fresh corn comes along. Packer hogs gained a little more than the non-packer hogs. This may give packers a little incentive to move their hogs into the packing plant ahead of the non-packers. Index hogs are also getting heavier. They are now up to 209.19#.

This morning I piled a pair of lon M/N spreads on my boat at 0.20. I'm suspecting they will lounge around quite a while before someone comes along to take them off my boat.

Scalping the VVVs from the short side has been good business this morning. I can do that and still keep my short VVVs in place.

Best wishes,

dhm