10/19/16 WAS down -$0.04 and the model projects that the component on yesterday's kill will change in the range of +0.20 to -0.10. That amounts to nearly unchanged. I had been expecting the down trend to continue but packers seem to be stabilizing there bids. Maybe the supply of hogs is not very burdensome right now.

Packers purchased 88.2% of the moving average daily purchases yesterday. Producers are not overly anxious to sell I guess.

Still short a couple of ZZZs and a couple of GGGs. That ten+ point "Gap" makes me cautious.

Best wishes,

dhm