3/10/16 was up +0.08 to 66.70. The JJJs are now trading premium to the component by 5.48. The index is now in an up-trend and it is strong enough to suggest that the the JJJs might not have to take a hair cut between now and going to cash settlement. I am not willing to go all out wild to the bullish side but I am inclined to buy dips and sell rallies rather that sell rallies and trying to find a dip to cover into.

The six-day moving average carcass weight moved up 213.31#. That is -1.28# yr/yr. Index hogs are moving up in weight to the point that they are close to the rest of the hogs. Packer hogs are coming in 1.82# heavier than the non-packer hogs.

Best wishes,

dhm