5/29/15 was down -0.15 to 82.00. The MMMs are now premium to the component by 2.10. With the index in a mild decline, I have opted to sell a pair of MMMs. So far I am not in trouble with the trade.

The six-day moving average carcass weight was steady this morning at 213.48#. That is -3.40 below the same date last year.Producers seem to be quite current in their shipments although heavier weight carcasses now seem to be the norm.

It's time to see if the model will project a cash settlement for the MMMs.

Best wishes,

dhm