3/3/17 was down -0.33 to 72.78. The JJJs are now trading discount to the component by -5.75. Almost every day it amazes me how accurate the model is at projecting the change to the component. It would be great if it were just as accurate in projecting changes to the JJJs but it is NOT!!

The 6-day moving average carcass weight firmed to 212.58#. That's -0.62# year / year. Packers continue to bring their hogs to market heavier, +3.86. The percentage of packer hogs in Friday's kill was down a bit.

When the JJJs made a technical/emotional surge this morning, I scaled on three shorts. Have now taken profits on two and the third is in-the-money but not at profit target yet.

Best wishes,

dhm

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