Cattle: Steady Futures: mixed Live Equiv $180.66 - 0.09*
Hogs: Steady-$1 LR Futures: 10-30 LR Lean Equiv $136.82 + 0.14**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Cattle buyers should start to circulate a few initial bids this morning, possibly around $158-160 in the South and $253-255 in the North. Such preliminary pokes are not likely to shake any apples off the tree. Indeed, asking prices should remain firm around $164-165 in the South and $260-plus in the North. Significant trade ...