Cattle: Steady-$2 HR Futures: 10-30 HR Live Equiv NA*
Hogs: Steady-$1 LR Futures: mixed Lean Equiv NA**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Bullish feedlot managers came away with a victory late last week, especially those selling steers and heifers on a live basis. Moderate trade volume seemed to surface in most areas as short-bought cattle buyers agreed to pay as much as $128 in the South ($2 higher) and $127-129.50 in the North, (up $2-3.5). Interestingly, most of the ...