1/26/18 was up +0.09 and the model projects that the component on Friday's kill will be up between +0.10 and +0.40.

Packers purchased 125% of the moving average daily purchases of total hogs and 146.4% on the index hogs. Packers were really pulling in the hogs Friday and they paid a little higher to get them.

Still long some GGGs but they are covering some short calls. I looking to harvest the call premium and it appears to be working.

Best wishes,

dhm