eased to 216.33#. That is +2.24# yr/yr. With feed costs down, producers are continuing to finish their hogs to very heavy weights. The maximum 6-day moving average carcass weight last year was 217.75. We are not much below that right now. These heavy carcass weights continue to add a lot of pork.

Today we are putting the finishing touches on a 20-point ITZ move down in the GGGs off their 11/17/14 high of 93.075. I never saw this coming and the 2.30 discount the GGGs have to the index suggests that traders think there is more coming.

Best wishes,

dhm