7/7/16 was down -$0.20 and the model projects that the component on yesterday's kill will drop between -0.20 and -0.50. Packers made a solid purchase with lower bids at 112.1% of the moving average daily purchases.

The six-day moving average carcass weights have firmed mildly the past couple of days. Perhaps this is because the low kill Monday backed hogs up mildly. If that is the case shortly we should see the weights decline from the mild-holiday-induced back-log. So far this year producers have been staying very current in their shipments. Yesterday the carcasses came in 2.07# below the same date last year.

Now to see if the NNNs and QQQs continue to slide.

Best wishes,

dhm