2/1/16 was UP 0.93 63.07. With the GGGs being weak this morning, the "Gap" has now closed to +1.41 with the GGGs being premium to the component. The Hog Pricing Model was quite accurate in projecting the amount the component would be up this morning. If it does as well in projecting the cash settlement price of the GGGs, I'm going to be smiling.

The 6-day moving average carcass weight came in at 213.47#. That was down nearly a half pound and it is -2.85# year/year.

It continues to be my bias that the GGGs has sold off too much this morning so I have violated sound trading rules and added to a losing trade. I'm long long 7 GGGs as well as putting on a few spreads and getting a few off so that I could make a couple of trips to the bank this morning.

Best wishes,

dhm