9/12/18 was WAY, WAY UP by +2.28 to 51.27. I could hardly believe the numbers so I went back and checked the numbers - not once but three times and that seems to be correct. The "Gap" is now closed to +3.68 with the VVVs being premium to the component. The component now needs to drop an average of -0.175 per day to close the "Gap".

The 6-day moving average carcass weight firmed to 209.10#. That is -1.83# year/year. The rapid kill rate a bit earlier this fall seems to have producers very current in their shipments. Packer hogs are now +1.13# heavier than non-packer hogs and the percentage of packer hogs in the kill mix continues to be strong. Perhaps packers have expanded their production capability.

Still HODLing the summer futures. I did get to make a round-turn scalp on the QQQs today.

Ka!! Ching!! I took two more profits on long Q/V spreads.

Best wishes,

dhm