9/23/16 was down -1.02 to 58.52. It seems that each time the component dips, the VVVs respond with a dip and that keeps the "Gap" quite wide. It now stands at -5.58 with the VVVs at a discount. Traders continue to look for weaker and weaker packer bids and they are getting them.

The six-day moving average carcass weight firmed to 210.54#. That is +0.09# year/year. That is not much but it IS heavier and it had been running below the previous year for quite a while. Both packer and non-packer hogs were heavier by about 1/3#. Index hogs were also heavier at 209.35#. It is not exactly a surprise to see carcass weights firming. It almost always happens in the fall when the weather cools a little. Hog just finish faster in mildly cooler weather and they will finish even faster when fresh corn begins to flow.

I sold another VVV future and have now covered it. Tried to sell it again but had a fat-finger-fumble and missed my point and click.

Best wishes,

dhm

is dpwm