4/8/16 was up +0.03 to 66.54. The "Gap" has now been cut to +0.19 with the JJJs premium to the component so the JJJs are now in lock-step with the component and that is how it should be this close to expiration.

The six-day moving average carcass weight moved up to 214.77#. That is-0.64# year/year. Packer hogs continue to climb in weight. They are now +3.14# heavier than the non-packer hogs. The percentage packer hogs killed was a bit higher on Friday. Index hogs continue to be lightest in weight at 213.49#. I keep watching these weights trying to see if a pattern develops. It continues to appear that producers of index hogs are quite current in their shipments. I'm not sure what to make of packer hogs getting so heavy. However I am of the opinion that packers know more about the hog market than the rest of us so I am making the assumption that they feel they need the extra pork.

Tool profits on three long N/Q spreads. Can now reload if they dip again.

Would like to sell a couple of J/K spreads.

Best wishes,

dhm