Suspicions that big packer prices were finally succumbing to pressure were confirmed during the past week to ten days, as most selections have traded at at least a dollar below their last traded levels.

Unfortunately for packers, it appears that, at least for the moment, they were a bit too late conceding to the lower ideas from buyers, and we are hearing there was more than a reasonable amount of business that was not booked. These buyers are now re-adjusting their ideas even lower.

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