3/20/17 was down -$0.14 and the model projects that the component on yesterday's kill will drop between -0.15 and -0.45. Packers made a solid purchase with their lower bids at 97.3% 0f the moving average daily purchases. That is a good purchase for a Monday.

It data is showing the kill rate is now moving up to the level projected by the last H&P report. And I wonder if the market can absorb all the pork?

I decided this morning to cover the short 66 April puts. If packers start cutting their bids, we can get there in a hurry.

Best wishes,

dhm