Cattle: Cash Steady Futures Mixed Live Equiv $134.46 - .10*
Hogs: Cash Steady-.50 LR Futures 10-30 HR Lean Equiv $107.09 - $1.35**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Early buying should be lame as ever with packer bids poorly defined. It is possible short-bought buyers could be forced to shop earlier than normal (i.e., Friday), but we've all looked foolish this summer trying to anticipate accelerated procurement. We'll see. Some asking prices are around $125 in the South and $200-plus ...