Cattle: Steady Futures: 25-50 LR Live Equiv $136.42 + 0.61*
Hogs: Steady Futures: 25-50 LR Lean Equiv $117.30 -$1.68**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Well, here we are again. A five-day window of potential fed cattle marketing shrunk into several fast-and-furious hours just before the weekend break. Short-bought and well-margined packers should be at least somewhat encouraged to move toward a higher asking of $122 in the South and $195-196 in the North. Look for opening bids around $117 ...