Cattle: Steady-$1 HR Futures: mixed Live Equiv $131.64 - 0.21*
Hogs: Steady-0.50 HR Futures: 10-30 HR Lean Equiv $110.47 + $1.09**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Packers are running out of time to do what has to be done. Processing margins are lousy, but that fact doesn't cancel the need to fund basic slaughter need to cover overhead expenses and service standing meat orders Opening bids should be around $123 in the South and $192-193 in the North. Yet ...