6/5/15 was unchanged at 82.37. That doesn't happen very often. The MMMs are now trading discounted to the component by 0.52.

The six-day moving average carcass weight has now climbed to 214.23#. That is more than a pound heavier than it was on 5/23/15. This is the time of the year when the carcass weight generally begins to decline a little. This comes at a time when the kill for last week was +10.28% year/year and the cutouts on Friday retraced by 1.50.

These numbers have me thinking that producers are falling behind a little on their shipments and that they have ample numbers of hogs in their barns. If packers are having a little trouble peddling the pork, they will most likely get their cost of product down so that can keep it from piling up on the packing house floor.

I still have a couple of long MMMs I would like to peddle to someone. Perhaps I am holding for a rally that is not going to happen.

Best wishes,

dhm