Neck and Neck Cattle Market

This is Matt Rice with the Market Line Report for Feb. 28th. Markets heating up as Live and Feeder cattle prices finish neck and neck. Here's Virginia McGathey with the CME Group as she reports on the Livestock Market.

McGathey "Monday, today the market was higher in the Live cattle, the market had a decent recovery from getting close to the months end and certainly the positioning that's going on before Wednesday, gave it a little bit of a boost. Now on Friday, they the cattle on feed report and that was really absolutely neutral and so maybe this sell off was a little too much."

Starting with those Chicago markets, July wheat prices closed the day dn 8 ¾, at 453 ¾. Chicago July Corn prices were dn 2 ½, to finish the Friday at 376 ¼. Prices in Portland for Soft White Winter Wheat of ordinary protein for Aug. NC were dn 8 ½ to unch, ranging from 4-63 ½ to 4-79. Hard Red Winter Wheat with 11.5 % protein, future prices for May were dn 10, ranging from 5-37 to 5-42. DNS Wheat with 14 % protein, prices for May were up 4 ½ and dn ½, ranging from 6-58 ¼ to 6-83 ¼. June Live Cattle finished the day up 77 ½, at 105.55. May Feeder cattle were up $2.02 ½, at 122.77 ½. March class III milk was dn 14 cents at 16-13.