Cattle: $1-2 HR Futures: mixed Live Equiv $139.76 + $1.13*
Hogs: Steady-0.50 lower Futures: 10-30 LR Lean Equiv $100.08 - $1.41**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Cattle buying interest should be light to moderate this morning with packers quickly renewing bids floated on Wednesday (i.e., $130 in the South; $208 in the North). If feedlot managers refuse to compromise asking prices of $135 in the South and $210-212 in the North, significant trade volume could be delayed until Friday. ...