Cattle: Cash Steady Futures: 10-30 LR Live Equiv $134.09 -$1.03*
Hogs: Cash Steady-0.50 HR Futures: 10-30 HR Lean Equiv $ 85.31 + 0.68**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
The cash cattle should be typically quiet today with both bids and asking prices likely to remain poorly defined. A few showlists will be priced around $127 in the South and $200-202 in the North. Live and feeder futures should open moderated lower, checked by lower cut-outs and uncertain cash potential.