Cattle: Steady-$1 HR Futures: 10-30 HR Live Equiv $138.16 - 0.57 *
Hogs: 0.50-$1 HR Futures: 10-30 LR Lean Equiv $ 99.69 - $1.83 **
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
After several weeks of eroding clout, feedlot managers successfully displayed superior cash leverage on Friday, move live and dressed sales $1 higher in the process (i.e., mostly $132 in the South, mostly $208 in the North). Though trade volume seemed no greater than moderate, producers should be encouraged enough ...