Cattle: Steady/firm w/Thurs Futures: mixed Live Equiv $176.43 + $2.37*
Hogs: Steady Futures: 25-50 LR Lean Equiv $140.08 - $1.29**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Despite their willingness to write significantly larger checks this week, packers have not succeeded in generating eye-catching trade volume totals. While movement in the North looks no better than moderate, negotiated business in Kansas and Texas still looks quite light. Accordingly, we could easily see another round of light to moderate trading today (especially ...