11/14/18 dropped by an even buck to 59.35. That closed the "Gap" to -2.45 with the ZZZs being at a discount to the component. When the ZZZs went higher this morning, I sold a couple more and scalped out.

The 6-day movin average carcass weight firmed to 213.18#. That is +0.27# yr/yr. Packer hogs are +2.31# heavier than the non-packer hogs and packers are shipping more hogs than usual. I am not sure what this means but it may mean that packers are thinking prices are heading lower and they are wanting to unload as many of their hogs as they can in front of the price-drop.

I'm still short the ZZZs and long the summer futures. I was looking for a steeper drop in the summer futures to add more and it appears that I missed a buying opportunity

Best wishes,

dhm