2/15/16 was up 0.22 to 66.05. The put the JJJs at a premium of 4.43 to the component. There is quite a bit of time between now and when the JJJs expire. On the surface it would appear that the Index can easily tack on enough to close the "Gap" and perhaps push the JJJs up a bit.

The six-day moving average carcass weight eased to 214.07# today. That is -1.54# yr/yr. Both packer and non-packer hogs were a bit lighter. The 6-day moving average carcass weight for the Index hogs remains lower at 212.46#. It continues to appear that producers of Index hogs have pulled their shipments forward and packers are continuing to bid higher for them.

My Internet was down for a major part of the day so I have done very little today.

Best wishes,

dhm