Cattle: $1-2 HR Futures: 10-30 HR Live Equiv $139.71 - 0.05*
Hogs: Steady-0.50 lower Futures: 10-30 HR Lean Equiv $101.50 + $1.42**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Time is running out for short-bought cattle buyers and we expect to do what needs to be done in terms of procurement sometime between late morning and early afternoon. While asking prices remain firm at $135 in the South and $210-212 in the North, the surfacing of attractive basis opportunities could convince ...