11/15/18 was down -0.58 and the model projects the component on yesterday's kill will plunge between -0.50 and -0.80. We seem to be locked into a down trend, but, as they say, "Trends always end".

My question is, "When?"

As the market opened this morning it is saying, "Yesterday!"

And that makes my decision to be short the ZZZs look pretty stupid! Maybe when the 201 report comes out with another leg down on the component, the market will re-think this near limit move this morning or it may decide to lock limit.

Yesterday packers purchased 80.8% of the moving average daily purchases of total hogs and 91.8% on the Index hogs.

Stilll long the summer futures and waiting for a dip to buy. It may not happen so I will HODL the ones I still have.

Best wishes,

dhm