Cattle: Cash Steady-$1 HR Futures: 10-30 LR Live Equiv $ 136.98 - 0.03*
Hogs: Cash Steady-0.50 LR Futures: 10-30 LR Lean Equiv $ 86.93 + 0.53**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Barring any tempting basis opportunities that might suddenly stimulate selling interest, the cash cattle market is likely to remain dormant with both bids and asking prices poorly defined. Significant trade volume may be delayed until the second half of the week. A few feedlot managers should restate asking ...