ITZ. This morning I sold it at 84.25 and took a little profit and placed an order to sell again at 84.25 but it kept on going lower. I forgot to cancel the sell 84.25 order and just before the close it was hit. That will make my equity run for tomorrow look good but Friday could be a different story because pork primal cuts tumbled today.

Packers did not get many hogs purchased today. With tomorrow being a holiday, then the weekend, they may not have wanted many. More probably they didn't need many because strong numbers were reported on the swine scheduled for delivery report today. Last Friday packers made a huge purchase and then followed up Monday with another large purchase.

A couple of low kill days because of the holidays may be backing hogs up a little if the 6-day moving average carcass weight is any indicator. It had been showing a little decline but it bounced back up today and it was both packer and non-packer hogs that were heavier.

From the afternoon reports the model is projecting that the Purchase Index is going to be up a little on Friday but the afternoon reports in front of a holiday could be mis-leading. If the flop in the primal cuts is any indication, we just might get to that 79.80 (or lower) on the GGGs.

And while the primal cuts were heading lower, boxed beef jumped up. The psychotic behavior of the Feb cattle/hog spread may not be over. Another dose could be in store for us on Friday when there may be even fewer traders lurking around.

Best wishes,

dhm