Cattle: Cash Steady-$2 HR Futures: 50-100 HR Live Equiv $130.31 - 0.29*
Hogs: Cash Steady-0.50 HR Futures: 10-30 HR Lean Equiv $ 92.66 + 0.27**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
The January on-feed report contained a healthy serving of bullish news for short-supply advocates who were beginning to lose faith in the face of struggling feedlot sales. Now that the big lot bunk line has been confirmed to be even smaller than expected (i.e., 11.193 million head, 6% below ...