Cattle: Steady-$2 LR Futures: mixed Live Equiv $178.18 - 0.57 *
Hogs: Steady-$1 LR Futures: 50-150 LR Lean Equiv $129.30 - $4.47 **
* 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 be a typical yawner today with both bids and asking prices poorly defined. Market psychology received a shot in the arm on Monday (or a least a temporary reprieve) when live and feeder futures managed to reverse from early session lows and close sharply higher for ...