Cattle: Cash: $4 to $7 Higher Futures 50 cents Higher Live Equiv $169.62 - $0.95*
Hogs: Cash: $1 to $2 Lower Futures: 50 to 90 Lower Lean Equiv $108.53 -$0.62**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Light cash trade developed through the afternoon Thursday in all areas with live basis listed at $170 per cwt. This is a $4 to $6 per cwt rally over last week levels indicating just how much packers need to access cattle heading into the ...