got your 82.00 target on the Feb cattle/hog spread. I sold it yesterday morning and picked up a point. Then bought and picked up a little more.

I just have this feeling that there will be quite a bit of substitution of pork for beef much above 82.00. I wonder if the June is now headed for 82.00? The way June hogs are usually strong in June, I'm doubtful.

Best wishes,

dhm