9/28/18 was up +0.72 and the model projects the component on Friday's kill will be up between +0.90 and +1.20. The VVVs are trading discount to the component by -4.72 with eleven more days of data to get us to cash settlement. The surging component may be able to push the VVVs a bit higher. So I am staying long the VVVs.
Packers purchased 133.8% of the moving average daily purchases of total hogs and 129.8% on Index hogs. Willing buyers and willing sellers came together on Friday.
Still long the summer futures and have taken quite a few profits and keeping reloading my boat on dips.
Best wishes,
dhm