3/15/17 was down -0.25 to 71.72. The JJJs are trading discount to the component by -1.47.

The 6-day moving average carcass weight firmed to 212.88#. 'That is -0.16# year over year. Packer hogs were a bit heavier and non-packer hogs were lighter. Packer hogs are +3.98# heavier than non-packer hogs. Index hogs are a bit heavier today at 211.97#. I believe producers are keeping quite current in their shipments. It continues to strike me a bit bullish to see packers finishing their hogs so much heavier.

This morning I have been covering some short J/K spreads at my profit target. I was concerned that they might be losers but they came through.

Best wishes,

dhm