9-30-14 was up 0.41 to 109.64. This has widened the discount of the VVVs to the component to 2.44.

The six-day moving average carcass weight was a tic lower at 212.87#. That is =7.10# yr/yr. The yr/yr increase is gradually going a way. Perhaps hogs are being pulled forward to meet the kill needs.

The mildly lower 6-day moving average carcass weight was from packer hogs being lighter.

The full increase in the kill rate may not hit until after the VVVs go to cash settlement (That is if we can believe the H&P Report and the kill since 9-1-14 seems to be validating the report).

I added to my long VVVs this morning. So far it looks like I made a wrong decision.

Best wishes,

dhm