9/26/18 was up +1.35 and the model projects the component on yesterday's kill will be up between +1.15 and +1.45. The uptrend seems to be intact. The VVVs settled discount to the component by -2.44. Another point or so jump in the component may be enough to push the VVVs a bit higher so I am staying long the VVVs.

With their higher bids, packers purchased 85.8% of the moving average of total hogs and 93.5% on the index hogs. Producers were not falling all over themselves to sell hogs yesterday even though packers were bidding up.

Still long the summer futures - actually I added a few yesterday.

Best wishes,

dhm