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Cash this week has started a little bit earlier than the previous two weeks and is averaging $180 so far with a little over 14k head traded. Asks are around $183 to $185 with most of the bids around $180 and kills are 15,000 less than last week as of yesterday. For Strategy 2 continue to look at buying puts to protect the uptrend or look at bull spreading the market, buy April and sell June for instance.
Because of the lower kills this week the packer has pushed the cutout back up a little. The daily and weekly trend are still holding down but as we have been looking at the seasonal trend is to move higher.
The cutout continues to push lower holding the downtrends. The daily load counts continue to show normal movement as we head into Christmas. Most of the buying has already taken place for Christmas over the prior several weeks.