Cattle: Cash Steady Futures: mixed Live Equiv $127.81 + 0.19*
Hogs: Cash Steady Futures: 10-30 LR Lean Equiv $ 93.10 -$1.03**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
The combination of lower sales and light trade volume in Monday's hog market was difficult to assess. Does it mean that packers are simply in good shape in terms of live inventory, or does it mean they will eventuality be forced to reach deeper in their pockets to generate more volume? Time will ...