Cattle: Steady w/Thurs Futures: mixed Live Equiv NA*
Hogs: Steady Futures: mixed Lean Equiv NA**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
For the first time in many weeks, cash cattle traders have actually beat the Friday rush. Short-bought packers were motivated to secure slaughter needs as early as Wednesday and Thursday, even though the accelerated slaughter required that they write substantially larger checks (i.e., $129 in the South; mostly $204, $5-6 higher in the South). We could see a little ...