9/1/16 was down -$0.08 and the model projects that the component on the 9/1/16 kill will drop between -0.05 and -0.35. The down trend continues. I guess that means that the Oct hogs will be up again today.

Go figure!!

The VVVs are now trading discount to the component by -2.22. That's not much considering the possibility of increased kill as we move into cooler weather and fresh corn.

Packers made a fair purchase yesterday at 90.0% of the moving average daily purchases.

Best wishes,

dhm