Cattle: Cash Steady Futures Mixed Live Equiv $136.04 + .34*
Hogs: Cash Steady Futures 10-30 LR Lean Equiv $114.71 -$1.50**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
We should soon be able to tell whether or not cattle buyers intend to complete procurement before or after the July 4 holiday. Look for opening bids around $117 in the South and $190 to $191 in the North. Given asking prices of $122 in the South and $195 to $196-plus in the North, ...