Cattle: Cash Steady-$2 LR Futures: mixed Live Equiv $133.55 - 0.21*
Hogs: Cash Steady Futures: mixed Lean Equiv $ 87.71 - 0.07**
* 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 remain well in the bubble this morning with both bids and asking prices poorly defined. A few showlists have been priced around $129-130 in the South and $207-plus in the North. Barring irresistible basis opportunities, significant trade volume will probably be delayed until the second half of ...