2/25/15 was UP 1.15 TO 64.11. That puts the JJJs premium to the index by 4.74 and the MMMs are over by 19.34. That is enough "Gap" to keep me short the MMMs but not the JJJs.

The 6-day moving average carcass weight eased to 214.9#, That is +1.19# year over year. Producers are getting more current in their shipments. It appears that the spring decline in the kill rate has begun. The percentage of the kill that is made up of packer hogs is on the decline. The expansion that I thought that packers were making has not materialized.

Best wishes,

dhm .