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The CME Lean Hog Index component on the kill for -

11/20/17 dropped -0.41 to 64.17. The ZZZs are now trading discount to the component by -2.87. That discount is small enough that the packers can close that by cutting their bids for a couple of days. I don't have a directional bias relative to the ZZZs but I did early this morning and it worked.

The six-day moving average carcass weight dipped to 213.12#. That's +2.06# yr/yr. Producers may have enough hogs waiting to come to market to prevent much of a rally. Index hogs were also a bit lighter at 213.16#. Packer hogs were heavier than non-packer hogs by 1.79#.

The G/J spread eased a little so I re-loaded my boat with quite a few longs. Earlier in the week I was able to un-load 14 so I had quiet a bit of cargo space I could fill.

Best wishes,

dhm

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The CME Lean Hog Index component on the kill for -
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