3/1/16 was up +$0.03 and that is not much and from it the model projects that the change in the component will be in the range of down -0.05 to up +0.25. Packers bought only 85.4% of the moving average daily purchases. The supply of market ready hogs may be constricting mildly and cutouts are doing all right.

At this point I am mildly friendly toward the JJJs and am looking for a scalping set-up that will get me long.

And I have some long K/M spreads that are for sale.

Best wishes,

dhm