12/1/17 was up 0.78 to 64.20. That is somewhat more than the modeled projected. The ZZZs are now trading premium to the component by +0.30. Considering the way hogs can jump around that is no premium at all.
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The 6-day moving average carcass weight on the index hogs moved up to 215.41#. This could be telling us that producers of index have got behind in their shipments. I keep watching the carcass weights looking for a clue relative to the potential kill as the ZZZs get ready to go to cash settlement. Packers did make a very large hog purchase Friday but to do so, they sweetened their bid prices. I had thought this might spill over to the ZZZs and they would exhibit a little firmness but it is not happening - - - yet.

Calendar spreads have really been keeping me busy lately. the G/J gave me a lot of action this morning and the M/N chipped in a good bit also.

Best wishes,

dhm