Cattle: Steady Futures: 10-30 LR Live Equiv $154.62 + 0.59*
Hogs: Steady-$1 LR Futures: 25-50 LR Lean Equiv $128.93 - 0.57**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
If cattle traders really want to get away for a long holiday weekend, they'll have to come to terms sometime over the next several hours. For packers, it's the same old problem, caught between tight feedlot supplies and unattractive processing margins. On the other hand, producers are confident about immediate leverage but nervous ...