6/10/15 was down -$0.03 and the model projects that the CME Lean Hog Index component will move in the range of +0.05 to -0.25.

The six-day moving average carcass weight is trending higher and the kill rate is abit higher than projected from the last H&P report. It just might be that producers have expanded more than suggested by the last H&P report and that they are not as current in their shipments as they were. Nothing bullish about that.

I looking forward to the next H&P report to see if it tells us a bit more about the expansion cycle.

I have one long MMM pig that I may take to cash settlement.

Best wishes,

dhm