9/13/17 WAS down -$0.46 and the model projects that the component on yesterday's kill will skid by something like *0.55 to -0.85. From the producers' standpoint, we are still on that pesky down-trend. With carcass weights being firm and possibly rising with cooler weather and fresh corn coming on, it is going to take firm demand to halt this decline. We didn't get it yesterday! Cutouts dipped another -0.11 being led lower by bellies giving up another -2.68.

With their lower bids, packers purchased 85.8% of the moving average daily purchases of total hogs and 90.3% of index hogs. I don't think producers are very current in their shipments.

The VVVs are now trading discount to the component by -6.46.

STill short the VVVs and now some ZZZs and my supply of Tums is dwindling.

Best wishes,

dhm