9/28/17 was UP +$0.30 giving us the first up-tic for weeks and weeks. The model projects that the component on yesterday's kill will drop between -0.20 and -0.50 due to the large number of hogs packers already have purchased and lower prices.

Pre-opening shows both the VVVs and ZZZs gapping lower and the V/Z spread bouncing a little.

Best wishes,

dhm