4-30-15 soared by +1.47 bringing it up to 70.23. The dip in the MMMs this morning as closed the "Gap" to 11.91. Still a wide "Gap" when the average gain from this point to the MMMs going to cash settlement has been 2.64.

But-

The Index did gain 16.95 during that time frame in 2013. So we wait and watch and worrrrrry!

Perhaps I should have dumped all of the remaining K/M spreads. One thing is for sure, I have a lot less than I once had.

The 6-day moving average carcass weight continues to drift lower. Today it was down to 213.73#. The is -3.78# below one-year ago but +5.57# over 2013. Packers are keeping current in the shipments.

Best wishes,

dhm