4/25/17 was down -0.18 to 59.84. The weakness of the index and the strength of the futures has opened the "Gap" to the MMMs to 12.21 and the KKKs are at 5.68. It seems to me that those are strong number with the index in a down trend, cutouts showing weakness and carcass weights holding up well. Of course if the kill falls off, we will see packers begin to chase hogs.

The 6-day moving average carcass weight eased to 212.65 with both packer and non-packer hogs being about 1/4# lighter. Packer hogs are still +1.90# heavier than non-packer hogs.

Scalping the MMMs is working today.

Best wishes,

dhm