3/17/17 kill was down -0.27 to 71.49. The JJJs are now trading discount to the component by -2.69. There is not a very strong case here that the index is on the verge of a major collapse. I am not complacent about being short some 65 and 66 puts but I am going to stick with them for a while longer. They have worked well so far and I just have this feeling that the -2.69 +Gap" is enough of a safety net to make them work. It looks like I might get the other end of my scalping trade filled.

The 6-day moving average carcass weight firmed a little to 212.98#. That is -0.36# year/year. Packer hogs continue to be heavier by 3.73#. The percentage of packer hogs in he weekend killed backed off a little.

Best wishes,

dhm