Cattle: Cash Steady Futures: mixed Live Equiv $127.62 -$1.72
Hogs: Cash Steady-0.50 HR Futures: 10-30 HR Lean Equiv $ 94.13 +$1.54**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
The cash cattle market seems set for another serious conflict between tight fed supplies and struggling beef demand. Although feedlot managers generally won the hard fought contest last week (i.e., the South sold live cattle $3 higher on Wednesday; the North sold dressed cattle $4 higher on Friday), they paid a price in ...