Cattle: Steady-$1 LR Futures: mixed Live Equiv $141.69 + 0.19*
Hogs: Cash Steady-0.50 HR Futures: 10-30 HR Lean Equiv $100.41 +$1.43**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
The clock is running for short-bought cattle buyers and we expect to see moderate trade volume surface sometime between late morning and early afternoon. On one hand, profitable packers should have a vested interest in funding aggressive chain speed. On the other hand, buyers are hoping that the defensive psychology fostered by board ...