6/15/16 was up 0.38 and the model projects that the component on yesterday's kill will be up between +0.35 and +0.65. There will need to be a steady gain in the index to close the 5.65 premium that the NNNs are priced over the component. With their higher bids, packers made only a fair purchase at 92.6% of the moving average daily purchases. Cut outs are holding up well so packers have the wherewith to keep bidding higher.

And now we are off and running with the NNNs up 0.565.

Best wishes,

dhm