4/20/15 was UP 0.52 to 65.05. The MMMs are now premium to the Index by 12.60. That's wider than usual.

The six-day moving average carcass weight dipped to 214.27# this morning. That is -2.84# year/year. It is not clear whether producers are liquidating some of their market hogs or whether they are merely super-current in their shipments. It was especially the packers hogs that were lighter in weight. It appears to me that the percentage of packer hogs being killed is going up. Perhaps this is not surprising since they were really chasing hogs last year and didn't want to have to do that again.

Best wishes,

dhm