Cattle: Cash Steady Futures: 10-30 HR Live Equiv $137.01 - 0.52*
Hogs: Cash Steady-0.50 LR Futures: 10-30 HR Lean Equiv $ 86.40 +$1.45**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
It would appear the early seeds scattered in the name of a spring rally in cattle prices have fallen on rocky ground. The implosion of live and feeder futures on Friday suggests that significant germination in that regard will at least be delayed for a while longer. The weekly live chart ...