Cattle: Steady Futures: mixed Live Equiv $170.61 - 0.64*
Hogs: Steady-$1 LR Futures: 50-100 HR Lean Equiv $111.78 + 0.48**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Packer inquiry in cattle country should start to slowly improve this morning, probably with starter bids around $150 in the South and $238-240 in the North. Assuming that feedlot mangers restate asking prices around $155 in the South and $245-plus in the North. If both sides dig in their heels, significant business will probably ...