 National Direct Afternoon Report showed cash up 3 cents. Cutouts eliminated more than half the gains of Tuesday, with the price declining $1.55. The strength seemed to stem from further short covering as the market corrected from being oversold. We'll be watching weekly export sales for any direction here today. Packers may have purchased most of their needs for the week, leaving them bidding lower in the cash hog market. Saturday slaughter estimated at 64,000 head.