8/29/18 was down -0.36 to 45.66 thus posting another new low for this Hog Cycle. The VVVs settled premium to the component by +3.46. The futures market still says that we will post the low for this Hog Cycle before the VVVs go to cash settlement.

The 6-day moving average carcass weight was steady at 207.91#. That is -0.68# yr/yr. Producers have really got current in their shipments and it is especially the packer=producers that are current in their shipments. Index hogs were slightly heavier at 207.82#.

I am still HODLing the summer futures. I held onto the short VVVs today but I am not HODLing them; it's just that it seemed like a good idea to hold them for another day. With bellies being strong today, I think I better cash them in and run to the bank tomorrow.

Best wishes,

dhm