Cattle: Steady-$2 HR Futures: 10-30 HR Live Equiv $134.62 - 0.28*
Hogs: 0.50 LR Futures: mixed Lean Equiv $101.83 - 0.51**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
For most of the summer, the cattle market has followed a midweek pattern of inactivity. We can't think of a reason that traders would deviate from the standard roadmap this morning. It's possible that a few scattered bids will surface here and there, perhaps around $121 in the South and $193-195 in the ...