2/26/15 was UP +$1.48 AND the model projects that the CME Lean Hog Index component on the 2-26-15 kill will be up between 0.95 and +1.25. The usual spring decline in the kill rate has started. So far there is not an increase in the cut outs to give packers a lot of purchasing power.

I still think the "Gap" between the MMMs is too wide but the market does not seem to agree.

Best wishes,

dhm