Marketline Report for Monday, February 11th
McGATHEY ... "Today, the live cattle market was higher. There's a slight uptick in the cash activity and of course it comes right at the end of the week. You know, the wait all the way to the end of the week really was raising some of the bids by the packers and the futures remain in that up-trend that has been in the past month. The USDA report came and went in a whimper with the grain market and of course that just made all the meats really start to rally, including the feeders. The feeders were also on the rise. Futures were reacting to that USDA report, meaning that it was little to write home about and so that just means that there's a steady march up. Demand seems to be pretty good. Maybe there's like less participants so the bulls are in control here and pushing the market higher."
Chicago March Wheat prices closed yesterday up 4 at 518
March Corn was dn 2 ¼ at 374 ¼
Portland prices for soft white wheat of Ordinary Protein for Feb ended the day unch ranging from 6-35 to 6-58 Hard Red Winter wheat with 11 ½ % protein, prices for Feb were dn 2 ranging from 6-49 ¼ to 6-64 ¼ DNS wheat with 14 % protein, prices for Feb were up 4 ranging from 6-63 ½ to 6-73 ½
Live Cattle for Feb were up $1.07 ½ at 127.45 Mar Feeder cattle are up $.85 to 144.27 ½ Feb Class III milk was up .01 cents at 13.98