Markets are down

I'm Tom Allen with the Market Line Report for December 3rd. Markets are down accost the board. Gary Kozlowski tells us what happened in the livestock market at the close of the CME.

Kozlowski - "Feeder cattle were also down again. We are seeing a wild ride with this. We are looking at inventories in the feedlot that are at 90 days are ten percent about what we had last year at this time. So the inventories are high, they are slowing down on the slaughter end just a little bit and at the retail end there is not as much demand. "Chicago December Wheat ended yesterday dn 4 1/4, at 452 1/2. December corn ended yesterday dn 3, at 363 1/2. Portland prices for soft white wheat of ordinary protein for Jan took a bit of a drop, dn 4.25-unch, ranging from 4.6725-5.3000. Hard Red Winter wheat with 11 ½ % protein, prices for Dec. dropped 3, ranging from 5-46 to 5-71. DNS wheat with 14 % protein, prices for Dec. were up 1.25, ranging from 6.2375-6.5375. Dec. live cattle closed yesterday down $3.00, at 129.100. Jan. Feeder cattle were down $4.50, at 159.90. Dec. class III milk was up 2 cents, at 14-65.