3/4/16 was down -0.33 to 66.46. The "Gap" has now been cut to 3.46 with the JJJs premium to the component.

The six-day moving average carcass weight moved up to 213.44# with packer hogs tacking on 0.51# and non-packers hogs remaining unchanged. Packer hogs are now 1.65# heavier than non-packer hogs. Index hogs were also a bit heavier at 212.78# however they are still the lightest of the various categories that I track. Producers of index hogs may be very current in their shipments.

For some reason packers had a bunch of their hogs killed that had gained in weight.

This morning I bought some J/K spreads. That may turn out to be a mistake.

Best wishes,

dhm