Cattle: Steady Futures: 10-30 HR Live Equiv $135.81 - 0.17*
Hogs: Steady Futures: 10-30 HR Lean Equiv $118.98 +$1.45**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Does the cash cattle trade have a change to get out of its Friday rut? We'll find out over the next few hours. On one hand, packers seem short bought enough to turn aggressive shopper as early as today. Yet if they assume that beef cut-outs will continue to struggle in the weeks following July ...