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The CME Lean Hog Index component on the kill for -

10/16/17 was right in line with projections being up +0.85 to 61.52. The ZZZs are now trading premium to the component by 1.98.

The 6-day moving average carcass weight eased to 210.48#. That's -0.08# year over year. Packer hogs dropped 1/5# and non-packer hogs dipped by more than 1/2#. Packer hogs are +0.77# heavier than non-packer hogs. The number of hogs in the kill mix fell to 31.30% yesterday. This is the time of the year when hogs should be finishing quite rapidly and often shows up as a gain in carcass weights. It is possible that this lighter weight situation is telling us that hogs have been pulled forward a little. I don't know whether there is anything significant about packer hogs coming in heavier on a lighter percentage of packer hogs being killed. It could mean that packers are wanting more pork so they are holding their hogs back a little or it may be just the way their shipments are scheduled.

This dip gave me a trend line reversal signal to get long. So I am working a buy order but for just one and if it's filled, I will have a very tight stop.

Calendar spreads have been very active for me this morning having made 14 trades. Nearly half were "Round-trippers" and that is always the goal to get 'em on and get 'em off!!

Best wishes,

dhm

Messages In This Thread

The CME Lean Hog Index component on the kill for -
Went long a ZZZ and - - -
Re: DH, today is a tough one-----