7/17/18 WAS DOWN -0.44 to 78.94. The QQQs are now trading discount to the component by -11.37.

The six-day moving average carcass weight was steady at 207.22#. That is -0.15# yr/yr. Packer hogs are now lighter than non-packer hogs by -2.18#. Packers have become super current in their shipments. I think they sense that pork is piling up and they are not wanting to add to the pile.

Best wishes,

dhm