Cattle: Steady to $2 HR Futures: 10-30 HR Live Equiv $166.85 + $1.46*
Hogs: $1 HR Futures: 10-30 HR Lean Equiv $125.81 + $2.59**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Cattle buyers may start to field a few preliminary bids this morning, probably around $146 in the South and $235 in the North. Such early efforts are not likely to attract much selling interest. Look for asking prices to surface around $150-152 in the South and $143-145 in the North. ...