8/24/16 was down -$0.24 and the model projects that the component on yesterday's kill will drop between -0.05 and -0.35. I didn't get it posted yesterday, but the component for the 8/22/16 kill was down -0.12 to 66.95. Packers only purchased 87.7% of the moving average daily purchases yesterday.

So far this week the kill is running just about as projected from the last H&P report.

Cutouts were steady and with Labor Day coming up, packers may keep their bids fairly firm to meet the holiday demand but the Labor Day demand surge is nothing like the Memorial Day or Independence Day demand bounce.

I just noticed that VVVs are starting the day a little weak.

Best wishes,

dhm