1/13/16 was up +$0.42. The evidence is mounting that the spring up-trend in hog prices has begun. On average over the last 11 years the CME Lean Hog Index will gain 3.59 between now and when the GGGs go to cash settlement. In 2004 it gained 12.12 and in 2015 it lost -14.29. With the"Gap" being at 7.08, it appears that the market is betting the Index will surge by more than seven points. I think it could be more than that so I am holding two long GGGs and will scalp around them.

I was busy making this post and missed a nice set-up to put on a short scalp.

Best wishes,

dhm