6/15/18 was up +1.61 and the model projects the component on Friday's kill will be up between +1.40 and +1.70. The NNNs settled discount to the component by -0.53. When I saw that I decided it was time to get long the NNNs so I bought three NNNs this morning at 82.10.

With their higher bids packers only purchased 88.5% of the moving average daily purchases of Index hogs. The did a bit better on total hogs at 97.3%.

I was able to take some profits on some long Q/V spreads. Have now reloaded some of them. The Q/Vs are really treating me well.

Best wishes,

dhm