Cattle: Steady-$1 HR Futures: 10-30 LR Live Equiv $138.27 + 0.11 *
Hogs: Steady-0.50 LR Futures: 10-30 LR Lean Equiv $ 100.40 + 0.71 **
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Cash traders will remain in slow motion this morning with few expecting significant trade volume to develop before Thursday and Friday. Initial asking prices are around $134 in the South and $210-plus in the North. If the board remains on the defensive through midweek, feedlot managers may eventually rethink ...