Cattle: Steady Futures: mixed Live Equiv $180.73 - 0.82*
Hogs: $1 LR Futures: mixed Lean Equiv $136.18 - $1.74**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
After last week's sluggish cash trade with soft prices and limited trade volume, cattle feeders are anxious to see if they can relight the magic of the summer market. Of course, such nervousness is underscored by the deep discount of nearby live cattle futures. But it also seems fair to say that short bought packers ...