Cattle: Cash Firm w/Wed Futures: 10-30 HR Live Equiv $129.92 - 0.07 *
Hogs: Cash Steady-0.50 HR Futures: 10-30 LR Lean Equiv $ 93.01 -$1.12**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Short-bought packers in Kansas and Texas really got with the program yesterday, jumping live bids by $3 (i.e., $125) in order to spark light to moderate movement. Yet the North is still looking for the first serious bids. The balance of showlists are priced around $126-127 in the South ...