MURICO.com Forum

The CME component on the kill for - - -

2-12-15 was down 0.94 to 62.54. The GGGs are now discounted to the component by -0.41. We now have 50% of the cash settlement index and it takes a drop of 0.83 to get us to where the GGGs are now trading. The model projects that the cash settlement index will be 62.06 with a range of 61.81 to 62.31. This morning I bought three more GGGs on the dip. It now appears prudent to take profits on them rather than hold for cash settlement.

The model served as a fine trading tool during this expiration cycle.

The six-day moving average carcass weight firmed to 215.65# this morning. That is +2.25# yr/yr. Both packer hogs and non-packer hogs were a little heavier. The percentage of packer hogs in the kill mix is a little larger than usual. Perhaps packers have expanded more than non-packers.

It has now become apparent that selling the June cattle/hog spread at 67.10 was not a lapse of judgement but a good move. Oh, well. I harvested a little profit.

It appears that the MMMs are going to go limit today. Fundamentals don't seem to justify it but never mind as long as the technical/emotional factors are in play - that can be enough! I'm waiting for the limit move and will sell into it.

I took profits on a Q/V spread this morning and have plenty more in waiting for a higher bounce.

Best wishes,

dhm

Messages In This Thread

The CME component on the kill for - - -
Re: Looks like the Algo traders are---
It's not just the JJJs that are being tested - -
Re: It's not just the JJJs that are being tested -