John,
I'm being surprised that my Laelias (the species) are doing this. The new growths have not finished maturing but I can see sheath formation.
My Lc. formed a sheath after the new growth finished maturing. However, the sheath has been in the same stage for about a month now--but I can see a shadow inside. I'm hoping it's a flower.
I had a Cattleya hybrid that formed a sheath but it was empty. It yellowed and fell off on its own.
And, of course, I've had other Laelias that formed a sheath until after the growth matured, but it took a LONG TIME for the sheath to develop buds. Months and months and months.
So, I suppose the short and long answer is that it depends on the plant.
