1/13/16 was up +0.40 to 55.32. Traders have pushed the GGGs up enough to keep the "Gap" firm at +6.98 with the GGGs being premium to the component.

The six-day moving average carcass weight firmed to 215.66# and it was the packer hogs that were heavier. It is possible that this firmness is in part the result of Smithfield's problems Monday. I say that because packer hogs killed on Monday were quite low and those hogs will keep getting heavier until the backlog gets cleaned up.

I'm not getting much good done today. Made a couple of scalps that didn't amount to much; closed out one spread and loaded two more onto my boat.

Best wishes,

dhm