Cattle: Steady Futures: 10-30 LR Live Equiv $169.56 - 0.72*
Hogs: Steady-$1 HR Futures: mixed Lean Equiv $117.23 + $2.28**
* 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 market should remain in its all-show-and-no-go mode with both bids and asking prices poorly defined. A few showlists should be priced around $164-plus in the South and $255-plus in the North. Significant trade volume will probably be delayed until Thursday or Friday. Live and feeder futures seem geared to open moderately ...