11/9/16 was down -0.25 and the model projects that the CME Lean Hog component on the 11/9/16 kill will drop between -0.15 and -0.45. We are still in a down trend as near as I can tell. The futures are trading discount to the component by -3.26. Traders are saying, "Packer have a ways to go in cutting their bids."

I'm still short the ZZZs and GGGs and missed a nice set-up to sell more on the opening this morning.

Best wishes,

dhm