Cattle: Cash Steady-$2 HR Futures: mixed Live Equiv $131.89 + 0.05*
Hogs: Cash Steady-0.50 LR Futures: 10-30 LR Lean Equiv $ 89.15 -$1.14**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
This probably represents the last day of cattle trading in 2012. Bullish-minded feedlot managers would love to mark the finale with higher sales. Margin-stressed packers clearly want to go out with a determined show of frugality. Look for opening bids of $124 in the South and $198 in the South, well ...