Cattle: Steady-$1 LR Futures: 10-50 HR Live Equiv $137.57 + 0.07*
Hogs: Steady-$1 HR Futures: 50-70 HR Lean Equiv $106.60 +$1.38**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
The mood through the cash cattle market is virtually unchanged with a few token bids developing on Tuesday around $120 in the South. This may help to spark renewed bidder interest midweek, but the focus on the USDA report may keep the attention on the grain complex through much of the day. Asking ...