Cattle: Cash Steady Futures: 10-30 HR Live Equiv $128.58 - 0.13*
Hogs: Cash 0.50 LR Futures: mixed Lean Equiv $ 89.01 - 0.72**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
At some price level, short-bought packers will have to hold their nose and buy a certain numbers of steers and heifers over the next several hours. Asking prices remain firm at $127-128 in the South and $203-205 in the North, but it remains to be seen if feedlots managers will be ...