Cattle: Steady Futures: 10-30 LR Live Equiv $154.03 + 0.38*
Hogs: Steady-$1 LR Futures: 50-100 LR Lean Equiv $129.50 - $2.68**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Packer inquiry in cattle country could begin to slowly improve this morning. We should at least start to see some definition in terms of preliminary bids. Yet significant trade volume will probably be delayed until Thursday or later. Asking prices remain firm at $149-150 in the South and $242-243 plus in the North. ...