9/13/16 was down -$0.02 and the model projects that the component on yesterday's kill will drop between -0.50 and -0.35. The drop in the VVVs has opened the "Gap" to -7.09. That is a hefty "Gap" and there is a good chance that the drop yesterday was over done and there will be a POP in the VVVs today. Chances are it will be over done in the opposite direction today.

Packers made weak purchase yesterday at 78.2% of the moving average daily purchases. I don't think that means much just the way things worked out. Carcass weights are holding up so I doubt that it means there is a shortage of hogs.

Still short the VVVs but not as confident as I was yesterday because of the large "Gap"

Best wishes,

dhm