11/9/16 was down -0.01 at 49.54. The model missed today. It looks like packers opted to kill some of their more expensive hogs yesterday. That may mean there are some cheaper hogs in the pipeline. The ZZZs are now discount to the component by -3.22.

The six-day moving average carcass weight was steady this morning at 211.47#. That is -2.44# yr/yr. Packer hogs continue to be heavy at +3.66# over non-packer hogs. Index hogs are lighter at 210.22#.

Still short the ZZZs and GGGs.

Best wishes,

dhm