7/26/17 was down -$0.45 and the model projects that the component on yesterday's kill will drop between -0.40 and -0.70. Packers are getting on with getting their cost of product down. How low and how fast will they go?

That is the question.. The VVVs say to th 67 range by mid October.

With their lower bids, packers bought 105.0% of athe moving average dauily purchases of Index hogs,

Still long some QQQs and short a lesser number of VVVs.

Best wishes,

dhm