11/7/16 was down -$0.44 and the model projects that the component on yesterday's kill will shed something like -0.15 to -0.45. It appears that packers are still cutting their cost of product. This has closed the "Gap" to -.277 with the ZZZs discount to the component.

Cutouts made a little jump yesterday. Considering the amount of pork being produced, I wonder if there will be follow through today.

Best wishes,

dhm