Cattle: Cash: Steady to $1 HR Futures: Mixed Live Equiv $170.04 + $0.10*
Hogs: Cash: $1 to $2 Lower Futures: Mixed Lean Equiv $112.03 -$2.42**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Packers may start floating some token bids across the market through the morning in order to get the ball rolling and to start to advance cash trade. At this point it is likely to be either one of two options, initial bids may be strong, and draw active trade into the complex ...