I'm sorry guys:
Murph is correct HR stands for Hot Rolled
CR stands for Cold Rolled.
Now, Hot Rolled means that it was rolled when it was hot and the tolerancences are not real close.
Cold Rolled is Hot Rolled that has been run through the rolling mill a second time cold. This does several things. It breaks the mill scale off, it gets to stock to closer tolerances. ie 1/2". Hot Rolled is actually a little more than Cold Rolled and has mill scale. The 1/2" Cold Rolled is really 1/2" and has very square corners. Cold Rolled also is work hardened. It is actually harder than Hot Rolled only because of the work hardening. I suspect that the reason that Murph feels that it grinds "like butter" is because the mill scale is gone. The Mill Scale is harder than the actual metal.
You can recognize the difference because Cold Rolled will be brighter in color and in square or flat stock the corners are very crisp. With square or round stock a mike will show that the Cold Rolled is the actual size. Generally speaking Cold Rolled is more expensive than Hot Rolled.
I have heard discussions by blacksmiths that Cold Rolled is harder than Hot Rolled.... Not if you are forging it! Once you have brought it up to temperature the work hardening is gone.