12/8/15 was down -$0.15 and the model projects that component on yesterday's kill will change in the range of +0.15 to -0.15 and that is to say, "Not much change."

Carcass weights are still running heavy but not as heavy as last year.

If the H&P report is fairly accurate, the kill rate will decline in early January. Whether it will be enough to give us a ten-point "ITZ" boost or not in the GGGs remains to be seen. If last years price is any indication, it just might happen.

I'm wanting to sell the Z/G spread above and remaining long the GGGs after the ZZZs go to cash settlement.

Best wishes,

dhm