10-30-14 was down -1.43 to 90.69. With the ZZZs being up a little, the gap has now closed to 3.27.

The 6-day moving average carcass weight rose to 215.31#. That is the third consecutive "UP" day for the weight and, as has been the case for a while now, it was the packer hogs that contributed the most to the surge in the weights.

Hogs have been on quite a strong down trend since 10-9-14. It is probably time for the "Big Boys" to jump in an pump hogs up about two points to clear the bear stops that are working then the ZZZs will move lower again.

I keep watching for a clue that hogs have bottomed out. As long as carcass weights are firm, cutouts are down and the kill rate strong, packers are most likely to continue dropping their bid prices.

Today I have been able to scalp a few ZZZs from the short side. I'm now waiting to cover a short ZZZ.

Spreads aren't doing much today.

Best wishes,

dhm