4/12/16 was down -$0.06 and the model projects that the CME Lean Hog Index component on yesterday's kill will be "Steady" in the range of -0.10 to +0.20. Packers made a fairly good purchase yesterday at 94.4% of the moving average daily purchases.

The kill this week is coming in a bit puny being down -7.24% from the same time last week. I'm suspecting a plant or two may have been down for maintenance on Monday. The 6-day moving average carcass weights are holding in the 214# to 215# range suggesting the supply of hogs is holding up well.

Index hogs are lighter in weight and this might be supportive of the Index.

I'm still long a trio of JJJs and will buy dips and sell rallies today.

Best wishes,

dhm