7/27/18 was way, way DOWN by -1.67 to 71.32. The QQQs are now trading discount to the component by -7.94. The model calculates that the component will need to drop an average of -0.60 per day to close the "Gap".

The six-day moving average carcass weight firmed to 207.44#. That is +0.42# yr/yr. It appears that the low kill last week backed hogs up a bit. Index hogs were steady at 207.69#. Packer hogs are lighter than non-packer hogs by -0.66#. Packers have become very current in their shipments.
This morning I added another summer future and will now start selling rallies and buying dips.

The Q/V spreads continue to treat me well but the really worried me Friday before they finally gave me my profit target.

Best wishes,

dhm