you had to fee the "Kitty" a little. Some days are like that. Fortunately for me the long Feb cattle/hog spreads paid the rent for the day with a little help from two long GGGs that I scalped in and out of.

The data continues to point to ample hog supplies and with primal cuts being weak today, packers may be a little cranky about sweetening their bids since they seem to be getting good numbers purchased with progressively lower bids.

With the G/M spread at 10.85, it's possible that the MMMs have been beaten down a little too much, unless the GGGs take another leg down which could happen.

Best wishes,

dhm