Cattle Outdoing Holiday Expectations

Cattle Outdoing Holiday Expectations

Matt Rice
Matt Rice
This is Matt Rice with the Market Line Report for Dec. 6th. The cattle market has been holding steady even with DOW's all time high trading numbers, as some commodities not faring so well. Let's go to Virginia McGathey with the CME in Chicago to hear more on the livestock market.

McGathey "I'm Virginia McGathey here on the floor at the CME group, reporting to you on the livestock complex today. Good news in cattle, market really started to have a little continuation of a selloff from Friday. Heavy supplies in the beef market as well as some profit taking really pushing that market lower but it bounced right back. Bargain hunters stepped in and it held the market pretty steady."

Chicago May Wheat prices closed the day up 3 ¼, at 420. Chicago May Corn prices were up 12, to close the day at 365 ½. Portland prices for Soft White Winter Wheat of ordinary protein for April were up 3 ¼- 12, ranging from 4-55 ¼ to 4-67. Hard Red Winter Wheat with 11.5 % protein, future prices for March were up 4 ¾, ranging from 4-98 ½ to 5-03 ½. DNS Wheat with 14 % protein, prices for March were dn 3 ¾ & up 3 ¼, ranging from 6-34 ¾ to 6-59 ¾. April Live Cattle closed the day dn 7 ½ cents, at 109.17 ½. April Feeder cattle were dn 17 ½, at 121.27 ½. Feb. class III milk was dn 22 cents at 16-76.

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