1/3/18 was up 0.25 to 63.78. The "Gap" is now closed to +7.62 with the GGGs at a premium to the component.

The six-day moving average carcass weight moved up to 214.68#. That is +1.40# yr/yr. Index hogs were also heavier at 214.70#. Packer hogs were heavier by 1/2# and non-packer hogs were a bit lighter. Packer hogs on yesterday's kill were 1.81# heavier than non-packer hogs. These numbers may be indicating that producers are a bit behind in their shipments. With packer hogs continuing to run heavier, the trend toward killing heavier hogs may be continuing and producers may actually be fairly current in their shipments.

I'm still a tiny bit long the GGGs. Today I scalped out near the opening and got back in at a better price later in the day. I piled a bunch of calendar spreads on my boat. I hope the sailing weather is not too rough tomorrow. Would hate to have my boat "Turn Turtle" on me and spoil my weekend.

Best wishes,

dhm