The CME Lean Hog Index component on the kill for -

11/26/18 was down -0.21 to 57.02. It looks like the ZZZs settled premium to the component by +0.88. The percentage of packer hogs in the kill-mix continues to gain suggesting that packers are continuing to vertically integrate their operations.

The 6-day moving average carcass weight eased to 213.24#. That is -0.64# yr/yr. Index hogs were a bit lighter at 212.63#. Packer hogs were heavier than non-packer hogs by +2.99#.

When the summer futures dipped today, I only bought one QQQ pig. IF WE GET a big sell-off in the front month, the summer futures could drop five to ten points so I will be content with a light load at this point in time.

Best wishes,