8/23/17 was down -$1.88 and the model projects that the component on yesterday's kill will plummet by something like -1.05 to -1.35. With their lower bids packer only purchased 88.6% of the moving average purchases of total hogs and 94.1% of index hogs. Packers seem to be content killing fewer hogs than are being finished. I say that because the carcass weights are creeping up just a little and they should not be this time of the year. On 7/31/07 the six-day moving average carcass weight was 206.79#. Yesterday it was 207.56#. That is +0.55# yr/yr.

There is a huge "Gap" but packers know how to close "Gap".

I'm now mildly short the VVVs but worried because of the "Gap".

Best wishes,

dhm .