Cattle: Steady-$2 HR Futures: 25-50 HR Live Equiv $159.51 - 0.21*
Hogs: Steady-$1 HR Futures: 10-30 LR Lean Equiv $129.05 - $1.40**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Packer inquiry should slowly start to improve this morning with bids around $142-143 in the South and $230-232 in the North. Yet it remains to be seen if buyers will move close enough to asking prices around $147 in the South and $235-236 in the North for significant trade volume to surface ...