jumped to 209.79#. That's -2.90# yr/yr. It was mostly the packer hogs that were heavier by nearly a pound. I have been thinking for some time that packers have expanded more than the non-packers. Now it appears that they may have fallen behind in their shipments and have a few heavies to get marketed.

Today the T-Bond week two options expire. I have sold 155 puts and it appears they are going to expire I.T.M. They were backed up by short futures so it will work out just fine.

Best wishes,

dhm