2/4/16 was up +0.28 to 64.44. That is now quite the gain that the model projected. The GGGs are trading premium to the component by +0.66. That's not much and the GGGs are going to be very sensitive to any change in the component.

The six-day moving average carcass weight was nearly unchanged at 213.41#. The Index hogs continue to be mildly lighter in weight than the other hogs by about a pound. I continue to think this means producers of index hogs are very current in their shipments.

Still long GGGs but they will move with the component going forward.

Best wishes,

dhm