4/27/17 UP +0.10 to 59.69. The KKKs settled Friday premium to the component by 7.29 and the MMMs were premium by 14.31. Obviously traders are thinking that packers are going to make a major move up in their bidding. The model projects that it will take an average daily gain of 0.74 in the component to push the index up to where the KKKs are trading. That sounds like wishful-thinking to me although the cutouts did show a little spark Friday in spite of the fact that the kill was +7.21% over the same week last year.

It looks to me like I should be short the KKKs but I'm not - - - - - yet at least.

Best wishes,

dhm