4/11/16 was up $0.16 and the model projects that the CME Lean Hog Index component on yesterday's kill will move up between +0.05 and +0.35.

Even bidding higher packers only got a fair purchase at 94.1% of the moving average daily purchases, Based on the firming carcass weights, it appears to me that producers may be slipping behind a bit in their shipments. It may be mostly packers that are getting behind because their hogs just keep gaining in weight. Index hogs are coming in at the lightest weights. My feeling is that lighter index hog weights may be somewhat supportive of the index.

The JJJs settled at a discount of -0.19 to the component yesterday. With the prospects that the component will be higher today, I will cling to the trio of long JJJs that I slept with last night.

Best wishes,

dhm