Cattle: Steady-$1 HR Futures: mixed Live Equiv $130.92 - 0.10*
Hogs: Steady-0.50 HR Futures: 10-30 HR Lean Equiv $109.35 +$1.24**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Look for a few cattle bids to surface here and there today, but significant trade volume seems extremely unlikely. We've seen nothing this week to suggest a shift in the timing pattern of feedlot business. In other words, the cash market will probably not be seriously tested until Thursday or Friday. Asking prices remain ...