7/24/17 was down -0.73 to 90.02. The :"Gap" is now cut to -8.95 with the QQQs ata a discount to the component. The model is showing that the component will need to decline an average of -0.62 per day for the next 14 trading days to close that "Gap". With packers' margins in good shape and carcass weights on the decline, that might be a trough bigger than the QQQs will fall into,

The six-day moving average carcass weight eased to 206.99#. That is -1.44# year /year. Both packer and non-packer hogs were nearly 1/3# lighter. Hot weather could explain that. Packer hogs are -1.50# under non-packer hogs. Hot weather does not explain that. I'm suspecting packers are hurrying their hogs to market before the fall price collapse.

Still have a boat load of QQQs that I am getting tired of ferrying around.

Best wishes,

dhm