6/30/16 was down -0.33 and the model projects that the CME index on the 6/30/16 kill will fall between -0.10 and -0.40. Both the Purchase Index and the CME Index now seem to be in a down-trend.

Packers made a solid purchase at 105.3% of the moving daily average purchases with their lower bids. Producers may be getting a little more willing to sell their hogs now.

Cutouts are showing some weakness now that the buying surge in front of Independence Day is over.

Best wishes,

dhm