5-15-15 was up +0.44 to 82.27. That puts the MMMs just about even with the component. That huge premium "Gap" that the MMMs were running to the Index has now evaporated away. Perhaps the daily swings in the index will now influence the MMMs to a larger than usual amount.

The six-day moving average carcass weight firmed to 213.41#. That is down -3.42# from the same day last year. It appears that producers are still keeping very current in their shipments. There is somewhat of a tendency for the 6-day moving average carcass weight to be up a bit on Monday mornings.

The cash settlement index for the KKKs did in fact come in at 81.67.

I bought some of the Q/V spreads. I thought they were a little under-priced in the 9.40 to 9.80 range. Last week I was selling them in the 10.50 to 10.95 range.

Best wishes,

dhm