Trades on the third day of the 2027 NFL Draft were frequent but still irregular, with a lot of unconventional values being assigned.

The Jaguars moved up to gain an edge defender, paying 105% book value to move from 124 to 119 by sending pick 166 and only getting back pick 196. This continued a trend of teams being willing to overpay a little to cut line and get an edge–in this case, Wesley Williams out of Duke.

Next, the Raiders gave up a 6th-round pick (#208) in order to move up from #134 to #122. That was a fairly typical trade value, off by less than a typical 7th-round pick. Still, it picked up a selection for the Falcons, who could benefit from the extra draft capital. That earned them the combine warrior Mike Washington.

The Bears then moved forward and overpaid a little, but again well within the margins of last-day trades. The result was them being able to take their first defensive player since Round 1, Malik Muhmmad. Likewise, the Ravens paid #154 and a 2027 sixth-rounder in order to move up to #133. That’s almost a perfectly normal trade to pick up tight end Matthew Hibner.

The Seahawks then made a classic trade of a future 4th-round pick in exchange for a current 5th-round pick, in this case picking up #148 from the Cleveland Browns to get Iowa offensive lineman Beau Stephens.

Then the Raiders picked up #150 in exchange for Tyree Wilson and #219.

The Panthers continued to shuffle around, getting #151 and #227 (33.7 points) from Miami while sending #158 and #200 (41.6 points). That might simply have been too good of a deal to pass up for Miami.

The Broncos then finally showed some urgency and gave up #170 and #182 (44 points) to get #152 (31.8 points). In other words, by Round 5 of a somewhat irregular draft, conventional value was breaking down considerably.

In other words, while the trade market was largely stabilized, fewer and fewer GMs seemed to hew to convention if they had a guy they wanted on the board.