Cattle: Steady Futures: 10-30 LR Live Equiv $153.65 + 0.03 *
Hogs: Steady Futures: 10-30 HR Lean Equiv $132.18 - 0.35**
* 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 trade should remain grounded today with neither bids nor asking prices well defined. A few showlists have be tentatively priced around $149-150 in the South and $242-plus in the North. Live and feeder contracts seem pegged to open moderately lower, pressured by profit taking and worries that the most bullish ...