Look for a stronger opening thanks to residual buying tied to spillover bullishness from cattle and hogs.
Cattle: Steady-$2 HR Futures: 10-30 HR Live Equiv: $137.95 +1.37*
Hogs: Steady-$1 LR Futures: Mixed Lean Equiv: $ 83.40 – .03*
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
The cattle trade will not be tested Tuesday with bids and asking prices not well defined.