2/16/16 was down -$0.17 and the model projects that the component on yesterday's kill will be nearly unchanged in the range of +0.15 to -0.15.

Packers did not make much of a hog purchase yesterday at 85.6% of the moving average daily purchases. With lent season coming up and perhaps a little backlog to work through because of bad weather, they may not have been wanting hogs very badly; thus the lower Purchase Index.

Ka!! Ching!! I was able to off-load one short J/K spread at my profit target and make a quick trip to the bank. I still have some on deck needing to find a home.

And now I have bought a pair of JJJs to see if I can scalp a little. They will be gone by sun down.

Best wishes,

dhm