9/7/16 was down -$0.23 and the model projects that the component on yesterday's kill will shed something like -0.15 to -0.45. For a bit it looked like the down-trend might be over but no such luck. We are back on the down-hill track. There is a good chance that cool weather and fresh corn will bring more hogs to market as compensatory growth sets in from the hot weather slow-down.

I do believe that producers have made a solid effort to keep quite current in their shipments and that is a good thing. Yesterday the USDA announced that corn is maturing a bit ahead of where it was last year.

Smithfield seems to be trying to get their Monmounth, Ill plant back in operation this week. That takes away the price uncertainty over that plant going down.

Pre-opening is trying to get a full point "Gap" higher opening. I don't understand that but I'm flat the VVVs so I will just watch but I prefer the short side from a fundamental standpoint.

Best wishes,

dhm