1/8/19 was up +0.80 to 55.48. The GGGs are now trading premium to the component by 8.14. I am still HODLing one GGG and have orders working to re-load my boat if there is a dip. The component has now gained an average of 0.44 per day over the past five days. Sixty percent of that is +0.32 and if we get that until cash settlement, the model calculates the cash settlement index will be 63.96. I have sold GGGs on this rally and am now wanting to but a dip to re-load my boat.

The six-day moving average carcass weight firmed to 216.25#. That is +1.70# yr/yr. Packer hogs were a bit heavier and non-packer hogs were a bit lighter. Packer hogs were +3.66# heavier than the non-packer hogs. The percentage of packer hogs in the kill-mix continues to be high.

Still HODLing quite a few summer futures. I hope you like their behavior better today, Dewey. I surely do!

Best wishes,

Doc