Cattle: Steady/firm with Wed Futures: 10-30 HR Live Equiv $165.51 + 0.18*
Hogs: Steady-0.50 HR Futures: 10-30 LR 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
We're running out of bullish adjectives to describe the amazing cash trade of January 2014. Once again, short bought packers aggressively moved for cattle at midweek, spending $11-13 more on a dressed basis in the North (i.e., mostly $239-240) and $5 more on a live basis in the South (i.e., $147). Trade volume ...