Cattle: Cash Steady-$1 LR Futures: 10-30 LR Live Equiv $130.17 - 0.49*
Hogs: Cash 0.50-$1 LR Futures: 10-30 LR Lean Equiv $ 92.60 - 0.67**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
The clock is running. Sometime between now and mid-afternoon, cattle buyers and sellers must find a price level both can live with -- at least temporarily. Given the fact that both sides are fighting significant red ink, our guess is that no one will feel great when the dust ...