4/3/15 was UP 0.17 to 59.73. That was a bit of a surprise to see my model miss so badly on the projected change to the component. The six-day moving average carcass weight came in at 214.80#. That is -0.93# year/year.
The JJJs are now premium to the component by 3.52, The model shows that it will take a daily jump in the component of about 0.50 to close that "Gap" by 4/15/15. That can surely happen but my read on the data suggests that it probably won't happen. So I am holding a trio of short JJJs.
When the MMMs gave me a second chance to take some profits, I chose to cover one at 76.25. I will cover the other one at 75.70 or sell again at 75..80.
Best wishes,
dhm