7/14/14 kill soared by 0.96 to 133.81. Yesterday the component was not quite as firm as the model projected then today it was a lot stronger. Perhaps packers have some discretion on when they kill more expensive and cheaper hogs and the model is not able to second guess them on any given day bit trend-wise it does well.

The Index has now surged past the NNNs and, as expected, the Index is pushing the NNNs upward.

I'm still long the NNNs.

Best wishes,

dhm