10-28-16 was down -$0.09 and the model projects that the component on the 10-28-16 kill will be in the range of unchanged to down -0.30. It looks like the down-trend in intact and preopening says we are going to see the ZZZs gap up.

Packers made a huge purchase at 142.9% of the moving average daily purchases and they did it with mildly lower bids.

Cutouts are holding well so packers' margins are doing fine.

Best wishes,

dhm