8/24/16 was down -$0.09 and the model projects that the component on yesterday's kill will fall in the range of +0.05 to -0.25. Likely to be down a bit but not much. Packers made a fair purchase yesterday at 93.0% of the moving average daily purchases.

The kill this week is a bit stronger than projected from the last H&P report. Perhaps packers are killing a few extra hogs to meet the mild surge in demand we will see as a result of the up-coming holiday.

Got mildly long the VVVs on the dip this morning.

Best wishes,

dhm