Cattle: Steady-$2 HR Futures: 10-30 LR Live Equiv NA*
Hogs: Steady Futures: mixed Lean Equiv NA**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Activity in cattle country this morning will be limited to the distribution of new showlists. Look for the fed offering to be about steady with last week. Processing margins remain tight, but the supply of ready steers and heifers seem quite manageable. Indeed, fed numbers should soon start to increasingly tighten through the end of the year. Such ...