8/25/17 crashed by -1.54 to 76.12. The VVVs are now trading discount to the component by -14.20. If the component keep crashing by -1.54 per day, the cash settlement index for the VVVs will be 26.17. Not likely to happen.

Over the past 10-day the component has declined an average of -84.5 cents per day. If that rate continues, the cash settlement index for the VVVs will be 48.67. The model calculates that the component needs to shed an average of -44.0 cents per day to close the "Gap". I don't know what is going to happen but I do know that the carcasses are getting heavier and heavier at a time of the year when they should be getting lighter. Producers seem to be falling behind in their shipments.

The six-day moving average carcass weight moved up to 208.42#. That is +0.83# year over year, Packer hogs are -0.28# lighter than non-packer hogs. INdex hogs are at 208.03#.

I'm glad that you are all right, Dewey. When I check last night and saw how far you are from the "Eye", I thought you would be.

Best wishes,

dhm