2/13/19 was down -0.16 to 55.16. That represents 50% of the cash settlement index. The model projects the cash settlement index will be 55.04 with a range of 54.79 to 55.29. When the GGGs moved up a little, I sold some more. Not much risk and not much reward just the challenge of seeing how well my model performs.

The 6-day moving average carcass weight firmed to 215.34#. That is +1.06#yr/yr. Index hogs moved up to 214.33#. Packer hogs are +2.92# heavier than the non-packer hogs. Packer hogs were 1/3# heavier than they were the day before.

Cutouts dipped another -1.12. This probably put the packers in a very sour mood and so they will probably take it out on the producers.

Best wishes,

dhm