Cattle Building Foundation

Cattle Building Foundation

Matt Rice
Matt Rice
This is Matt Rice with the Market Line Report for Thursday Oct 27th. The beef demand has been building a solid foundation over the last few days and after today's market came to a close it looks like we'll follow suit once again. Here's Virginia McGathey, from the floor of the CME in Chicago with more on the livestock market.

MacGathey "I'm Virginia McGathey here at the CME, talking to you a little bit about the cattle market today. Today the market remains strong, it's consolidating now for the last 3 sessions, It's really solidly off its bottom. There has been some short covering, it's basically held the market up, thank goodness for that. The cash market has brought in a lot more demand, the demands really spiked up and certainly that's going to raise some of the cash prices both in select and choice beef prices."

Chicago May Wheat prices closed yesterday up 4 ½, at 447. May corn ended the day up 4, at 370 ¼. Portland prices for soft white wheat of Ordinary Protein for Feb. ended the day unch- up 10 ¼, ranging from 4-78 to 4-97. Hard Red Winter wheat with 11 ½ % protein, prices for Feb. were up 3 ¾, ranging from 5-09 ¾ to 5-24 ¾. DNS wheat with 14 % protein, prices for Feb. were up 2 ¼, ranging from 6-31 to 6-54. Feb. Live Cattle were up 60 cents, at 105.02 ½. Jan. Feeder cattle were up 65 cents at 117.87 ½. Dec. class III milk was up 5 cents at 15-25.

Previous ReportBig Crop Coming In
Next ReportSoybeans Hit 2 Month High