3/27/2014 Market Line Report

Beef producers will be happy with news from yesterday. I'm David Sparks filling in for KayDee Gilkey with the Market Line Report for March 27, 2014.

According to Alexandra Lively there is good news in the cattle market: "Live cattle futures and feeders continued to trade higher throughout the morning session with April live cattle and May feeders breaking most traders first and second levels of resistance right after the open. The cattle market is finding support from reports of cattle being traded in Kansas at 152 live and a record in Nebraska at 154 live. Cattle traders say that with slaughter numbers continuing to come in higher than expectation, this indicates that packer demand is strong and it is also supporting the market."

Grains Mostly Flat to Lower at Midday, yesterday. Robert Chesler gives us his insights into a portion of the grain markets: "The grain markets have been off to a soft open with some slightly negative news floating and permeating around the floor." Corn trade is flat to 3 lower in quiet midday trade with outside markets mostly neutral to negative. Again, Robert Chesler: "On corn, local feed manufacturers in China are expecting the government to start releasing some reserves, start selling corn out of their reserves so that is putting a bit of a lid on things there. "