The final Purchase Index for - - -

1/10/18 was up +1.69 and the model projects that the component on yesterday's kill will be up between +0.95 and +1.25. That comes on top o yesterday's jump of 1.04 to put the component at 67.78 on Tuesday's kill. Packers are really developing an appetite for hogs.

I have become extremely busy with the calendar spreads and did not get time to post yesterday.

The K/M spread dropped to -5.3 posting a 6-year low for this date. The previous low was -3.98 so I bought the spread.

Best wishes,