Cattle: Cash Steady-$2 HR Futures: mixed Live Equiv $133.01 + 0.51*
Hogs: Cash Steady-0.50 HR Futures: 10-30 HR Lean Equiv $ 90.76 +$1.71**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Short-bought cattle buyers will have to get with the program sometime today or risk starting next week dangerously close to the knife. If they plan to save any money, it will be necessary to face down increasingly bullish feedlot managers who have been inspired since 2013 began by impressively strong live ...