Cattle: Cash Steady-$1 HR Futures: mixed $131.17 +$1.23*
Hogs: Cash Steady-0.50 HR Futures: mixed Lean Equiv $ 91.94 - 0.01**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
So far this week, the cattle market has been all about higher futures and cut-outs. The feedlot trade hasn't made a sound. That should start to slowly change today and/or tomorrow as short-bought packers move to float more bids and get serious about what they really need to buy vis-à-vis pre-Christmas slaughter plans. Packers ...