Cattle: Steady to $2 LR Futures: 10-30 HR Live Equiv $146.33 - 0.94*
Hogs: 0.50-$1 HR Futures: 10-30 LR Lean Equiv $100.44 - 0.33**
* 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 could begin to surface at midweek if short-bought packers move to cover immediate slaughter needs. But should buyers decided to stall further, the decision will be tied to poor margins and the refusal of feedlot managers to compromise. The early-week strength of nearby live futures seems to ...