Cattle: Steady Futures: mixed Live Equiv $140.63 + 0.47*
Hogs: Cash 0.50-$1 HR Futures: 10-30 HR Lean Equiv $ 97.96 + 0.21**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Cattle buying interest should gradually assume greater definition this morning with preliminary bids around $123 in the South and $198-200 in the North. Asking prices should stay firm around $127-128 in the South and $205-plus in the North. Live and feeder futures seem likely to open in a narrow range with a ...