Cattle: Steady to $2 HR Futures: mixed Live Equiv $167.63 + 0.70*
Hogs: $1-2 HR Futures: mixed Lean Equiv $138.70 + $3.48**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Market watchers could start to see a few preliminary bids in cattle country this morning, probably around $146-147 in the South and $138 in the North. Yet given firm asking prices of $151 plus in the South and $245 plus in the North, significant trade volume is not likely to surface until ...