Cattle: Stdy-wk w/Wed Futures: 50-100 LR Live Equiv $172.95 - 0.78*
Hogs: $1-2 LR Futures: 50-100 LR Lean Equiv $115.95 - $2.41**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Light to moderate cattle trading surfaced in most areas yesterday as sharply lower futures prompted some feedlot managers to reconsider the appropriateness of higher asking prices. Most dressed deals in the North were marked at $242, approximately $3 lower than last week's weighted average basis Nebraska. Live business in the South took ...