5/13/15 was up +0.92 to 81.50. The model projects that the cash settlement index for the KKKs will be 81.79 with a range of 81.54 tp 82.04. There seems to be little reason to buy or sell the KKKs with them priced at the projected cash settlement. I will go to cash settlement with a few long KKKs.

The six-day moving average carcass weight was firm again at 213.20#. That is -3.41# below the same date last year. Producers seems to be very current in their shipments. The heavier carcasses were from non-packer hogs being a bit heavier.

Best wishes,

dhm