Cattle: Steady-$1 LR Futures: 25-50 LR Live Equiv $141.62 - .07*
Hogs: Cash Steady-.50 LR Futures: mixed Lean Equiv $100.49 + .08**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
In the past, the immediate business round before the long Memorial Day has been know to be rocky for the cash cattle and boxed beef market as buyers slip into slow motion to await the verdict of holiday demand and clearance. Positively, packer margins are outstanding and the late-spring supply of ready ...