Cattle: Cash Steady w/Thurs Futures: 25-50 HR Live Equiv $130.60 - 0.83*
Hogs: Cash Steady Futures: 10-30 LR Lean Equiv $ 92.37 - 0.40**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
After Wednesday's cash stumble when live business surfaced $1-3 lower than last week, it was surprising to see a fully steady/firm dressed trade (i.e., $198-199) develop in the North just one day later. Perhaps Southern feedlots were spooked earlier in the week by the Feb. 1 closing of Cargill's Plainview ...