2/26/15 was UP 0.75 to 64.84. The JJJs are premium to the component by 2.10 and the MMMs are at a 17.93 premium. I continue to think that the JJJs may be close to correct but the MMMs may be bid up a little too high.

So -

I bought a pair of J/M spreads this morning at -15.825. I'm looking for a point plus commissions on that trade. I had orders working to buy another pair at -16.00 but the market decided not to go there. I also sold another paid of MMMs at 82.925. They quickly gave me my profit target and they are now history.

The six-day moving average carcass weight is almost exactly the same as yesterday and that it +1.19# yr/yr. It appears that producers are getting a bit more current in their shipments. I find it interesting that packers are finishing their hogs +4.29# heavier than the non-packers!

Best wishes,

dhm,