Cattle: Cash Steady Futures Mixed Live Equiv $159.59 -$1.21*
Hogs: Cash Steady-$1 LR Futures 100-200 LR Lean Equiv $137.84 -$3.83**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
It's do or die time for cattle buyers today. And given the significant tension between short fed supplies and shrinking processing markets, several packers may be honestly lost in deciding which is the better option. Look for opening bids around $147-$148 in the South and $239-$240 in the North, well below asking prices of ...