is so far in into the future that my model is not much good in giving a projection however for April, the up-trend in strong enough for both the CME Lean Hog Index and the Purchase Index that my bias is that the up trend will continue until it pushes the JJJs up another point or maybe a little more.

The "Gap" has been closed to +0.97 and the model projects that about one third of that will be erased tomorrow when the 201 report comes out.

Historically on average there tends to be a couple of points of weakness in the index from now until when the JJJs expire. The model projects it will not be that way this year. I'm long three JJJs and will add on a dip.

Best wishes,

dhm