12/26/14 was up +$0.70 and the model projects that the change in component on the 12-26-14 kill will be in the range of +0.05 to -0.25. Packers made a very large purchase of hogs at 183.4% of the moving average daily purchases. It appears that packers were wanting the hogs because they were bidding up a little to get them.
Well, ITZ, we were a little early in getting short the Feb cattle/hog spread. I might just have to give "The Market" back a bunch of the cattle/hog money that came my way. I should have been paying more attention to the daily chart which seems to show that this could happen.
Best wishes,
dhm