Cattle: Cash Steady Futures: 10-30 HR Live Equiv $133.01 + 0.24*
Hogs: Cash Steady-0.50 HR Futures: 10-30 HR Lean Equiv $ 93.52 + 0.97**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Cattle buying could slowly start to improve this morning. At least, we should start to see a few opening bids, possibly around $123-124 in the South and $198 in the North. Assuming that asking prices will remain firm at $128-live and $204-205 dressed, significant trade volume is not likely to ...