9/21/17 WAS down -$1.16 and the model projects that the component on yesterday's kill will plummet by something like -0.90 to -01.20. I don;t think packers were wanting hogs because they only purchased 88.8% of the moving average daily purchases in terms of both total purchases and index hog purchases. It is easy to understand them no wanting to produce more pork considering the beating that the primal cuts took yesterday.

It just might be that this liquidation phase of this hog cycle is going to be brutal by the time that we get to the "Valley". They data is saying, "We are not there yet!"

I should be selling VVVs and ZZZs with both hands this morning, but don't have the spine to do that but I am still short the VVVs and ZZZs.

Best wishes,

dhm