11/1/16 was down -$0.46 and the model projects that component on yesterday;s kill will dip between -0.05 and -0.35. Packers seem to be gradually taking hogs down. The cutouts are holding up quite well suggesting that packers are continuing to move the product quite well. And therer is plenty of product. Kill is higher this week than projected from the H&P report.

Packers made a adequate purchase yesterday with lower bids: 90.2% of the moving average daily purcases.

I'm still short ZZZs and GGGs. The pop higher yesterday helped but it may be taken back today. I tell yoou, this must be a terrible market for produces to try to hedge in.

Best wishes,

dhm