All Eyes on Today's USDA Planting Intention Report

I’m KayDee Gilkey with the Market Line Report for March 31 2014.

 

Friday’s wheat market lost last week’s earlier gains. USDA Grain and Livestock Market reporter Greg Sanders shares update on last week’s Pacific Northwest Cattle markets.

 

Sanders: “Everything went higher again this week. We had a bearish on cattle on feed report came out Friday afternoon then then all the feeder cattle markets went higher. Most of the yearlings are pretty much cleaned up around the Northwest and in California also. Then local feedlots around here begin showing some interest in contracting calves for next fall delivery — which they have’t done for a long time so that perked the market up. Then that with the fat cattle market going up to $154 this week — that kind of improved everybody’s outlook on everything.”

 

Chicago May Wheat ended Friday down 15 cents at 7-10 and 1/2. May corn ended the day unchanged at 4-92.

 

Portland prices for soft white wheat were down a 1/2 of a cent to 14 and 1/2 cents at mostly 7-77 and 3/4. White club wheat prices were down a 1/2 of a cent to 14 and 1/2 cents at mostly 8-27 and 3/4. Hard Red Winter wheat with 11.5 percent protein prices were down 20 and 1/4 cents at mostly 8-91 and 1/2. DNS wheat with 14 percent protein prices were not available as most exporters are not issuing bids for nearby delivery.

 

June live cattle were down 17 and half cents on Friday at 138-35. May Feeder cattle were down 37 and half cents at 179-50. May class III milk was down a nickel at 21-64.