Cattle: Steady Futures: 10-30 LR Live Equiv $131.33 + 0.07*
Hogs: Steady-0.50 HR Futures: 10-30 LR Lean Equiv $104.78 - $1.45**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
The cash cattle trade should remain grounded with bids and asking prices poorly defined. Early suggestions of asking prices are around $125 in the South and $196-198 in the North. It would be surprising to see significant trade volume develop before Thursday or Friday. Cattle futures seem ready to open moderately lower, limited ...