MURICO.com Forum

The final Purchase Index for - - -

10-31-14 was down -$1.14. The model projects that the CME Index component on the 10-30-14 kill will cough up between -1.15 and -1.45. This down trend in the CME Index is not over yet.

Packers made a rather anemic purchase yesterday at 85.7% of the moving average daily purchases. IT was especially the negotiated purchases that came in with small numbers. Perhaps this is the grouping that suffered the most piglet losses. The carcass weight on this group was way-low yesterday.

The gap opened a bit again yesterday to 4.92. The weakness in the ZZZs this morning may keep it from closing much when the 201 report comes out. Traders have their bear skin coats on and are doing a number on the ZZZs.

I don't have a strong bearish bias but the trend is "DOWN" and I don't want to fight the trend so I still have a couple of short ZZZs.

Best wishes,

dhm