I added to my position today, not a lot, 2 cars only in the VVV's. I am also holding M, Q, & ZZZ's. Following is part of what I just received from my broker!

Product remains tight. Not only is current production down and unable to meet the demand but there’s very little in the way of frozen stocks. Belly stocks are half of what they were a year ago approaching the summer draw down season. Producers are still liquidating sows. So, we have both near term support and long-term support.

The most difficult thing to do is simply hang on, not get nervous and let the market run higher. With hedging active on every open, futures will constantly display back and fill action. The hedger is going to get run over, IMO. Utilize the upside targets of 110-112 in the April and 120-125 in the June. Stay the course; remain bullish.

Dewey