1/18/16 was UP 0.62 to 56.65. The GGGs are trading premium to the component by6.15. The Index seems to be on a fairly strong up-trend that has the potential of closing the entire "Gap" by a jump in the index.

The six-day moving average carcass weight eased to 214.91#. That is -1.43# year over year. Perhaps equally as significant is the fact that the blended average carcass weight of the index hogs has fallen to 212.81#. If the producers of Index hogs have pulled their hogs forward and lowered the carcass weights, packers may have to bid up to see who gets to kill the index hogs.

I scalped out of one of my long GGGGs but quickly bought it back to add to my pocket change. I am now watching for another scalping set-up,

I went to the bank this morning with three long G/J spreads and one long K/M spread. Now I am on the prowl to replace then.

Best wishes,

dhm