Cattle: Cash Steady Futures: mixed Live Equiv $133.73 - 0.36*
Hogs: Cash Steady-0.50 HR Futures: 10-30 LR Lean Equiv $ 84.94 - 0.37**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Although light trading was reported in parts of Texas last Tuesday (i.e., $125, steady), the larger cash cattle market was not tested. Asking prices are around $127 in the South and $200-202, but feedlot ideas could soften given attractive basis opportunities. Live and feeder futures are expected to open on a ...