12/21/16 was down -0.20 to 58.08. The GGGs are trading premium to the component by 6.72. That is quite a "Gap" but my bias is that packers will close it with higher bids so I am holding a couple of long GGGs. When I develop a directional bias, I'm usually wrong!

The six-day moving average carcass weight this morning was steady at 210.95#. That is -2.34# yr/yr. Packer hogs are +4.29# heavier rhan non-packer hogs. I think packers are finishing to a heavier weight because they want more pork.

The next two weeks with all the holidays will be difficult for packers to keep up so we will see some big kill days early next year.

Best wishes,

dhm