2/2/18 was up +0.75 and the model projects that the component on Friday's kill will be up between +0.30 and +0.60. With their higher bids, packers purchased 114.0% of the moving average daily purchases of Index hogs and 116.4% on the total hogs. Packers wanted hogs and they got them.

STill a tiny bit long the GGGs and have plenty of calendar spreads.

Best wishes,

dhdmd