10/3/14 was DOWN 0.02 to 109.52. The VVVs are discounted to the component by 2.77 with six trading days until cash settlement.

The 6-day moving average carcass weight moved up to 213.59#. I'm suspecting the increase in carcass weight is linked to hogs gobbling up fresh corn. With the kill last week being close to the projected, there is not much to suggest that the kill is going to go up in front of the VVV pig dying. With the cut outs holding up well, packers may be willing to keep their bids up fairly well.

I should have come to this conclusion on Friday when the VVVs took a dip.

Best wishes,

dhm