Cattle: Cash Steady-$2 HR Futures: mixed Live Equiv $135.40 +$1.98*
Hogs: Cash Steady-0.50 LR Futures: 10-30 LR Lean Equiv $ 87.26 -$1.79**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
While we could start to see a few hints of cattle-buying interest this morning, serious packer procurement efforts will probably be delayed until Thursday or Friday. Asking prices remain firm at $130-plus in the South and $207-plus in the North. The cattle complex at the CME is likely to open on a ...