Cattle: Cash-$2 LR Futures: mixed Live Equiv $137.66 - 0.75 *
Hogs: Cash Steady-0.50 HR Futures: 10-30 HR Lean $ 94.15 - 0.17 **
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Tuesdays are typically quiet when it comes to trading cash cattle. While inactivity is probably the way to bet today, it's possible that early week trade volume could develop if packers suddenly move to offer attractive basis opportunity. Frankly, with spot June now $9-10 under recent cash business, it's very ...