Cattle: Steady Futures: mixed Live Equiv $134.50 - 0.44*
Hogs: Steady Futures: 10-30 LR Lean Equiv $110.16 - $2.50**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
It looks like the cash cattle market is headed toward another Friday showdown. Business could certainly surface today, but that would probably take packers to suddenly hike bids given how feedlots are used to stalling until Friday. Furthermore, board premiums will encourage producers to stick with higher asking prices of $121-122 in the South and ...