I am not. Monday I hit the BIG 85. Feel great but know I am not a "Spring Chicken".

Yes, I played hooky yesterday. My model shows that the cash settlement index for the NNNs was 92.46. Looking back to April when they were trading in the 70 area, we never thought we would see anything like 92 for the NNNs at cash settlement.

Demand has been incredible. As a matter of fact it still is. Cutouts were at 103.89 yesterday compared to 90.85 one-year ago.

ITZ says producers will keep expanding until there is a wash-out. I don't think it will be August but maybe December or January.

Best wishes,

dhm