2/21/18 was down -0.60 to 69.88. For practical purposes the JJJs are trading in lock-step with the component.

The six-day moving average carcass weight firmed to 214.52#. That is +2.16# year/year. That is quite a year/year increase and I wonder, "Why?"

I continue to think that packers are wanting to kill heavier and heavier hogs because their hogs are +1.08# heavier than the non-packer hogs. Never-the-less, the +2.16# increase over last year could be a hint that producers are not at all short of hogs. So far this week the kill has been a bit light so it just might be that a week of firm kill with change those weight numbers.

I piled a short cattle/hog spread onto my boat when they spiked to 37.40 a couple of days ago. When my profit objective was met, I dumped the trade. Today the market is telling me that I could have done better. For my peace of mind, I have adopted the philosophy that I always make the correct trading decision based on the information I have available at the time. That keeps me from beating myself up saying I should'a, could'a. would'a.

Anymore I am mostly trading hog calendar spreads and some days they keep me mighty busy making it a bit difficult to keep up with my posting.

Best wishes,

dhm