Cattle: Steady to $2 LR Futures: 10-30 LR Live Equiv $161.74 - 0.80*
Hogs: Steady to $1 LR Futures: mixed Lean Equiv $ 90.99 + 0.33**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Needless to say, psychology in the cattle market is off to a rough start this week thanks to struggling live and feeder futures. Opening bids are likely to remain lackluster, probably around $143-144 in the South and $222-224 in the North. Showlists should be priced around $148 in ...