on the kill for 4-29-15 was up 1.16 to 68.75 and the K/M spread closed to 4.975 and I made another trip to the bank. I have enough left so that I can make many more trips if the market just co-operates.

The MMM is now premium to the component by 13.45. A lot of "Gap" can be closed at the rate of 1.16 per day!

I don't know where this market is headed but I do think that the K/M spread of -5.10 is still too wide. I have scaled into a bunch of those things and now I am scaling out.

The six-day moving average carcass weight continues to drift lower. Today it is down to 213.77#. The is -3.53# under one year ago but it is +5.71# compared to 2013. Packer hogs are at 216.01# compared to 212.35# for non-packer hogs.

Best wishes,

dhm