Cattle: $1-3 LR Futures: 100-200 LR Live Equiv $178.07 - 0.11*
Hogs: Steady-$1 LR Futures: 50-100 LR Lean Equiv $125.80 - $3.50**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Light trade surfaced in parts of the Northern tier of cattle country on Tuesday with dressed sales ranging from $245-248, $4-7 below last week's weighted average basis Nebraska. Such early success in buying cattle lower could make it tough for producers to hold the high ground. Still, nominal asking prices may be ...