MURICO.com Forum

The CME component on the kill for - - -

4/8/15 was UP 0.20 to 60.31. It appears that some other traders have concluded that the JJJs were too high early this morning. They are now nearly a point lower than the early morning surge. This has closed the "Gap" to 1.89. The model shows that the component will now need to gain 0.40 per day to close the "Gap". This morning I hustled-off to the bank with one of the JJJs from this morning's sale. Orders are working to cash in the other two at 61.90.

The six-day moving average carcass weight firmed to 214.70#. Compared to last year that is -1.15# but it is +6.45# over 2013. Pork production continues to be quite strong. I keep looking at the MMM's premium to the index of 16.44 and I think there is more risk being long the MMMs than being short.

Best wishes,

dhm