Weekly Cattle Update

This is Matt Rice with the Market Line Report for Monday Oct 17th. This week we watched the beef market struggle as we saw demand continue to decrease. Let's go to Greg Sanders to hear more on the Cattle prices with the weekly cattle update from the USDA.

Sanders "National Slaughter cattle review for Thursday, Oct. 13th 2016. For Thursday trading in the Texas panhandle demand was moderate compared to last week live sales sold $4 lower at $98. Trading in Kansas was limited on light demand, live sale sold steady with the last reported market on Wednesday at $98. In Nebraska trading and demand were moderate. The bulk of live sales and dress sales sold steady at 98 and 1-54 respectively. When compared to last reported market on Wednesday, trade was slow with light demand."

Chicago May Wheat prices closed Friday up 4, at 451 ½. May corn ended the week up 4 ¼, at 369 ½. Portland prices for soft white wheat of Ordinary Protein for Feb. ended the week with a mixed market up 4 & dn ½, ranging from 4-99 to 5-09 ¼. Hard Red Winter wheat with 11 ½ % protein, prices for Feb. were up 3¾, ranging from 5-09 ¾ to 5-24 ¾. DNS wheat with 14 % protein, prices for Feb. were up ½, ranging from 6-32 ¼ to 6-50 ¼. Feb. Live Cattle were up $1.42 ½, at 99.30. Jan. Feeder cattle were up 45 cents, at 111.62 ½. Dec. class III milk was dn 4 cents at 15-11.