Cattle: Steady/firm w/Wed Futures: 25-50 HR Live $175.33 + 0.34*
Hogs: Steady-$1 HR Futures: 25-50 HR Lean Equiv $ 74.56 + $2.19
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Trade volume total generated at midweek don't seem big enough to cover short term slaughter needs. Accordingly, we think another round of light to moderate biz should develop sometime today, possibly not until the release of the April 1 on feed report scheduled for release at 2:00 p.m. CDT. Asking prices on ...