Cattle: Cash Steady w/Tues Futures: 10-30 LR Live Equiv $128.25 + 0.19*
Hogs: Cash Steady-0.50 LR Futures: 10-30 LR Lean Equiv $ 87.19 -$2.68**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Another round of light trade volume was reported in several cattle feeding states. Live sales of $123 were basically steady with Tuesday but $2 below last week. Yet many cattle remain on showlists, and short-bought packers may be forced to try some harder in order to cover slaughter over the ...