Cattle: Steady-$2 LR Futures: 10-30 LR Live Equiv $153.43 - $1.07*
Hogs: Steady-$1 LRFutures: mixed Lean Equiv $119.46 - 0.38**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
The cash cattle trade will begin in slow motion this morning. Indeed, activity will be typically limited to the distribution of new showlists. Our guess is that the new offering will be somewhat larger than last week. Initial asking prices are likely to mirror last Monday, around $148 in the South and $240 in ...