6/23/16 was up +$0.21 and the model projects that the component on yesterday's kill will move up between 0.30 and +0.60.

Packers made only a fair purchase yesterday at 89.5% of the moving average daily purchases even though they sweetened their bids once again. The up-trend in the Purchase Index and the CME Index is continuing. The pre-opening says the NNNs will be steady. When we get the 11:00 report showing an up-trend in the component, we may see a little strength in the NNNs.

But we just opened lower by a half point.

Best wishes,

dhm