Cattle: Cash Steady-$2 HR Futures: 10-30 LR Live Equiv $137.53 - 0.38*
Hogs: Cash Steady-0.50 LR Futures: 10-30 LR Lean Equiv $ 84.95 - 0.90**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
One way or the other, cattle buyers and feedlot managers will have to come to terms sometime today -- at least long enough to put wheels under moderate trade volume. It's quickly turning into the same old problem: packers are torn between being short bought and facing limited fed ...