12/17/14 was down -$1.58!! The model projects that the CME INDEX component on the 12/17/14 kill will drop between -0.90 and -1.20. Packers seem to be in a hurry to fix their margin problem and that is something they know how to do.

The number of hogs purchased yesterday was only 83.8% of the moving average daily purchases. Packers didn't seem to be wanting hogs very badly and they have been killing more than the usual number of packer hogs. The slowly declining 6-day moving average carcass weight makes me think that producers are staying quite current in their shipments.

I have taken profits on all of my Feb cattle/hog spreads and am waiting/watching to see if I dare pull the trigger to sell again. Can't quite do it today.

Best wishes,

dhm