8/21/17 was down -$1.22 and the model projects that the component on yesterday's kill will plunge between -0.75 and -1.05. Packers are getting on with getting their cost of pork down. The VVVs settled discount to the component by -17.27. We're shaping up for an ITZ 20 pointer.

The rising carcass weights have me concerned so I'm flat the VVVs. Maybe I can scalp better today. Yesterday they didn't yield me much but I was able to add several calendar spread trades.

Best wishes,

dhm