1-13-15 "Due to Packer" submission problems. I continue to expect it to be down.

Furthermore, from the noon reports the model is projecting that the Purchase Index for today will be down enough to drop the component on today's kill.

There is not a clue yet that we are at a bottom in the CME Lean Hog Index.

I covered one of my short GGGs with a little change and still have one short working.

The Feb cattle/hog spread has given participants plenty of profit opportunity and I didn't dare take the risk today.

Best wishes,

dhm