4/12/17 was down 0.47 to 63.44. The JJJs are now trading discount to the component by -1.02 with two more days of data to come in. Yesterday I took profits on all of my short JJJs except two. I can't remember a month when my Hog Pricing Model has worked with more precision than it has done with the JJJs this month.

The six-day moving average carcass weight firmed to 213.49#. That is -0.56# year/year. Packers are getting more current in their shipments. Packer hogs are only +1.66# heavier than non-packer hogs. Yesterday packer hogs made up 41.16% of the kill. That is not a record but it is quite a bit above the 31% to 33% we usually see.

Best wishes,

dhm