Cattle: Cash Steady Futures: mixed Live Equiv $130.44 - 0.59*
Hogs: Cash Steady-0.50 HR Futures: 10-30 HR Lean Equiv $ 92.23 + 0.65**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
While the cash cattle market was definitely lower on Friday (i.e., $125-125 in the South, generally $2 lower; mostly $199 lower in the North, $1.50 lower than Nebraska's weighted average), trade volume was quite limited in all areas. This sets the country stage this morning with a strange combination of larger ...