Bulls down, Dewey. The kill was up 9.0% over the same week last year. I was expecting something like +3.4% and the hogs came in heavy at +2.15# yr/yr. Cutouts held up all right but the afternoon Purchase Index took a thumping dropping -0.63 and the model projects the component on Friday's kill will drop between -0.20 and -0.50.

Best wishes,

D.H..