Cattle: Steady-$1 HR Futures: mixed Live Equiv $140.11 + 0.34*
Hogs: Steady-0.50 HR Futures: 10-30 HR Lean Equiv $ 99.46 +1.72**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
The cash cattle trade is not expected to be well defined this early in the week. We're not likely to see preliminary bids before Wednesday or Thursday. It sounds like initial asking prices are around $134-135 in the North and $212-plus in the North. Actual business with substantial volume probably won't surface until ...