9/20/16 was UP +0.02 AND the model projects that the component on yesterday's kill will be down between -0.05 and *0.35. Packers still have quite an inventory of cheaper hogs that should keep the down-trend going for another day or two. I decided to cover one of my short VVVs on the opening dip. If/when they rally I will re-sell. No rally, no sell.

I have plenty of long Q/V spreads. Am ready for them to rally so I can make some room on my boat.

Best wishes,

dhm