3/11/16 was up 0.10 to 66.80. The haircut the JJJs are taking today has cut the "Gap" to 3.83 with the JJJs being premium to the component. The six-day moving average carcass weight firmed to 213.49#. That is -1.27# yr/yr. Index hogs are now just about the same weight as the rest of the hogs but packers are shipping their hogs +2.09# heavier than non-packer hogs.

I don't know why hogs are generally weak today - it might be more technical/emotional factors that are driving hogs lower rather than fundamentals.

This morning was able to pile a few spreads onto my boat. Now to see how long it takes me to get rid of them and whether I do so at a profit or a loss. The long JJJs are now history and my wallet is a bit thinner and it is doubtful that I am any wiser.

Best wishes,

dhm