Cattle: Cash Steady-$1 HR Futures: mixed Live Equiv $132.64 - 0.37*
Hogs: Cash Steady-0.50 HR Futures: mixed Lean Equiv $ 91.14 + 0.38**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Positively, manageable fed supplies and ideas of tightening numbers ahead forced poorly margined beef processors on Friday to pay more for cattle (i.e., mostly $205 in the North, $2 higher, and $128 in the South, $1 higher). Negatively, trade volume no better than light to moderate volume signaled that packers remained ...