Cattle: Cash Steady Futures: 10-30 HR Live Equiv $131.06 + 0.39*
Hogs: Cash Steady Futures: mixed Lean Equiv $ 93.44 +0.23**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Preliminary bids could start to surface in parts of cattle country this morning, but they're sure to be well below asking prices of $128 in the South and $203-plus in the North. Assuming that the board stabilizes, significant trade volume will probably be delayed until Thursday or Friday. Live and feeder futures appear ...