1/22/15 was down -0.59 to 73.28. The GGGs are now discounted to the Index by 3.55. Not a particularly wide "Gap" considering the time we have until cash settlement. Today may be the capitulation of the bulls. Just in case, I have an order working to buy a GGG futures at limit down if they get there. I will hold out for limit because I don't HAVE to H A V E a GGG to carry over the weekend.

Especially since they could go limit again on Monday.

The six-day moving average carcass weight eased to 126.14#. That's +1.92# yr/yr. With the year/year number dribbling lower, it makes me think that producer are keeping quite current in their shipments and they may even be liquidating a few of the heavies they have. If that is the case, it could be bumping the kill rate up a little.

It looks like my idea to buy the GGGs limit was a good idea - - - the market just didn't co-operate.

Best wishes,

dhm