12/23/16 was DOWN -0.29 to 58.00. When the morning reports finally came in, the model did all right in projecting the change. It doesn't do very well from the afternoon reports. The GGGs are now premium to the component by 6.80. That surge in the GGGs at the close really opened the "Gap". The six-day moving average carcass weight was steady at 210.85# but packers were heavier and non-packer hogs dipped quite a bit. I think packers know what they are doing and they are finishing heavier. Why?? Because they know they can market the pork profitably!

Still long the GGGs but did cash in a couple and made plenty of scalps.

Best wishes,

dhm