Cattle: Steady-$1 HR Futures: 10-30 HR Live Equiv $131.70 + 0.68*
Hogs: Steady Futures: 10-30 HR Lean Equiv $108.25 - 0.12**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
No one expects to see much this morning in terms of initial cattle bids. Buyers will probably sit on their hands until Thursday or Friday. Some showlists are priced around $126 in the South and $198-200 in the North. While these general price levels could fluctuate somewhat depend how the board plays over ...