Of course it depends on the brand of extract, fermentables, etc. But a basic rule of thumb that I've always heard and gone by is that 4lbs LME=3lbs DME.
i've also seen 5 lbs dry is the same as 6 lbs of liquid in several places for extract swapping, never worked with liquid so can not confirm
but that also works with the 1.2 : 1 sheen says above = 6 lbs to 5 lbs
spidey is saying 1.333 : 1, but might be due the type of liquid or dry he is working with
either way weight, not volume, is the key to this conversion rate
John Palmer says (in "Brewing Classic Styles") that 4 pounds DME equals 5 pounds LME."Make beer not war"
Currently fermenting: Firestone Walker Pale 31 clone
Conditioning: Nothing
On draught: Nothing
Watch episodes of BYOB TV:
When I convert from LME to DME, I multiply the LME by .75. Going the other way I multiply the DME by 1.25. I got that in an old issue of Zymurgy."Mash, I made you my bitch!" -Tasty