6/19/17 was up $1.04. The model projects that the component on yesterday's kill will jump between +0.85 and +1.15. The NNNs are now discount to the component by -1.94. With cutouts firm and carcass weights declining, that may be too much.

Packers were only able to purchase 82.9% of the moving average daily purchases of index hogs yesterday even though they were putting a lot of money on them.

Still long NNNs and
QQQs

Best wishes,

dhm