1/19/18 was down -0.35 to 73.25. That was a surprise! The GGGs are now trading discount to the component by -1.50. Traders are thinking that the Index is going to back off a little. If we have been in a weather market, that will probably be the case.

The six-day moving average carcass weight was up a little at 214.74#. That is +1.06# yr/yr.

Scalped out of a GGG pig this morning and am now long again and it may be wrong.

Calendar spreads are not moving today. That happens from time to time.

Best wishes,

dhm