Cattle: Steady/fr w/Wed Futures: 10-30 HR Live Equiv $170.48 - 0.16*
Hogs: Steady-$1 LR Futures: mixed Lean Equiv $ 86.46 + 0.03**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Somewhat surprising, cattle buyers didn't wait until the last minute to cover slaughter needs. Most pulled out wallets yesterday and purchased fairly significant numbers. Most of the live biz in the South was marked at $150, $2 higher than last week. Most dressed deals in the North were tagged $240, $2-3 higher. ...