Cattle: Cash Steady-$2 LR Futures: 10-30 HR Live Equiv $131.31 -$1.33*
Hogs: Cash Steady Futures: mixed Lean Equiv $ 91.32 - 0.29**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Cattle feeders are hoping this morning that last week's market storm has come and gone. If so, the board may be able to recover some and wholesale beef prices start to stabilize. Beef producers will have to find a way to get the market to refocus on tight fed supplies. Initial asking ...