Hog slaughter for the week came to 2.215 million head, according to USDA’s weekly packer survey. That comes with only 412,000 head for today and 21,000 for Saturday. It was under our 2.227 estimate. Smaller than expected supplies, at the time of year with the smallest supplies anyway, is clearly positive.
Overnight seemed to follow yesterday's trade but the day session had a different thought in mind, which looked to be Friday profit taking. Through the middle of the day, beans pulled back again as they did overnight, which limited some gains seen from early session profit taking in corn. A difference from today compared to previous sessions this week was that the morning trade of highest volume was buying and when that eased the corn slowly drifted back down. This was likely the Friday profit taking that high volume traders had sold throughout the week.