2/6/17 was way up at a +0.82 to 71.94. The surge in the GGGs has them trading premium to the component by +0.82. Obviously taders are thinking this bull run has a ways to go still.

The 6-day moving average carcass weight eased to 212.38# . That is now -0.21# year over year. Both packer and non-packer hogs were lighter but non-packer hogs dropped more. The high price of the cutouts is pulling hogs forward but packers are still choosing to hold onto their hogs until they are four pounds are so heavier than the non-packer hogs. Obviously the packers are feeling a continued need for more pork.

Still long the GGGs. I tried to scalp them this morning and got a couple of Jeffersons. He's the guy on the $2.00 bill. Would liked to have had a couple of Benjamins (He's the guy on the $100.00 bill.) But you have to settle for what you can get. Riding long GGGs is working out all right.

Best wishes,

dhm