11/27/17 was up +0.09 and the model projects that the component on yesterday's kill will ease between -0.05 and -0.35. Packers still have an inventory of cheaper hogs purchased that will probably keep the component a little soft today.
Yesterday the component on Friday's kill was weaker than the model projected. It was down -0.70 to 62.82. The ZZZs are now trading PREMIUM to the component by 1.79. Traders have shifted from bears to bulls after T-Day.
I'm still short some covered calls and trying to buy the Z/G spread at -6.15. I may not get much done today.
Best wishes,
dhm