4/15.16 was up a tiny fraction but it was enough to move the component from 66.55 to 66.56. Precious little change.

The KKKs are now trading premium to the component by 7.42, That is a lot of "Gap" to close in 20-days especially considering the fact that the Purchase Index now seems to be in a down-trend.

The six-day moving average carcass weight firmed to 214.95# with both packer and non'packer hogs being heavier. That is +0.08# heavier than one-year ago. Index hogs were down a little at 213.03#. On the other hand packer hogs were 3.45# heavier than the non-packer hogs. Obviously packers seem to have no trouble handling heavier hogs.

The percentage of hogs killed that were packer hogs came in at 35.81%. It isn't often it gets that high. Maybe packers are going to begin liquidating some of their heavies now.

I didn't - - -

Ka!! Ching!! Ka!! Ching!! Just took profits on a couple of spreads. Was happy to see one of the long Q/Vs go away.

get short the KKKs.

Best wishes,

dhm