9/11/17 was down -$1.36 and the model projects that the component on yesterday's kill will drop between -0.85 and -1.15. The VVVs settled discount to the component by -5.97.

We are still in a down trend with both the Purchase Index and the CME Lean Hog Index. If producers are behind in their shipments as the data is suggesting, it is possible that we are going to see a fair amount more of weakness in the index. Cutouts are not suggesting that demand is all that great right now.

Yesterday I added a couple more short VVVs. I should have a Dewey-sized load of 25 or so short VVVs right but I don't.

Why?

Because I talk hogs much better than I trade them!!

Best wishes,

dhm