firmed to 213.46#. Packer hogs tacked on somewhat more weight than the non-packer hogs. Very often I notice for some reason the 6-day moving average carcass weight is up on Monday so this firmness is hardly a surprise. It is -3.36# lower than the same day last year. Packer hogs continue to be nearly +5.0# heavier than the non-packer hogs.

Ka! Ching!! I just off loaded another K/M spread. It spread is getting close to that -3.0 level I have been thinking might show up before cash settlement. If I don't get rid of all those spreads, I will have to make a decision on whether or not I want to go forward with a bunch of short MMMs. Historically the index tends to weaken following the holiday driven strength leading up to the KKK pigs dying. Being short the MMMs might not actually be a bad idea.

From the noon reports it appears that packers are still keeping their bids firm. That is what I prefer since I still have a bunch of K/M spreads and even more outright KKKs.

Best wishes,

dhm