11/2/16 was down -$0.36 and the model projects that the component on yesterday's kill will drop between -0.10 and -0.40. I'm a bit "Gun-shy" about posting that number after missed so badly yesterday. I believe packers have a fair sized inventory of purchased hogs from which to pull the day's kill. To guess which ones they will pull in is no small challenge.

Yesterday with their lower bids they purchased 81.7% of the moving average daily purchases. Packers my be looking to purchase a bigger batch of hogs today but that does not mean they will bid higher. They have quite an inventory of "Owned" hogs to process and their weights suggest packers may be getting behind in their shipments.

I'm getting tired of being short the ZZZs and GGGs but the data seems to be saying,"Stay the course!"

Sometimes a boat has to go through rough weather.

The bonds are cushioning my draw down. Just sold a Nov Week1 161 put.

Best wishes,

dhm