5/25/17 was up +0.11 to 76.39. The strength in the MMMs has opened the "Gap" to 5.24 with the MMMs premium to the component.

The six-day moving average carcass weight firmed to 210.79#, That is -1.43# year/year. Packer hogs were nearly a pound heavier and non-packer hogs were a bit lighter. Packer hogs are now about the same weight as non-paacker hogs and Index hogs.

Nothing bearish in the data today so I am sticking with my long MMMs.

Best wishes,

dhm