Cattle: Steady-$2 HR Futures: mixed Live Equiv $174.39 + 0.76*
Hogs: Steady Futures: mixed Lean Equiv $101.30 + 0.98**
* based on formula estimating live cattle equivalent of gross packer
** based on formula estimating lean hog equivalent of gross packer revenue
We expect at least light to moderate cash trading to finally surface today sometime between noon and mid afternoon. Opening bids should be around $167-168 in the South and $264-265 in the North. Yet packers will probably find it necessary to move closer to high asking prices (i.e., $174-plus in the South and $270 plus in ...