Cattle: Cash Steady -- $2 LR Futures: 10 -- 30 HR Live Equiv $133.76 -- 0.36*
Hogs: Cash Steady -- 0.50 HR Futures: 10 -- 30 HR Lean Equiv $ 87.78 + 0.58**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Cash cattle sold $2-3 over the board last week. Is such an extremely strong basis likely to surface again this week? That's probably not the way to bet. Higher futures, lower country sales, or some combo of the two seem to ...