Grain and Livestock numbers in the red

I'm Matt Rice with the Market Line Report for August 13th. Market prices throw us a curve ball, as prices continue to drop in both livestock and grain numbers. Chris Robinson shares his thoughts from the floor of the CME.

Chris Robinson: "Livestock update, we've seen a lot of volatility, a very bearish USDA report for grains. Huge increase in carry out in soy beans, the increase the yields for both soy beans and Corn. Soy beans and corn we're both limit down right after the report, we've come back a little bit. That's been felt through the livestock, we were higher earlier with a knee jerk reaction. That lower feed costs would be friendly for cattle. We've been all over the board, as I speak now to you know we are half way to limit down. I think you may see this type of volatility for the next 3 to 4 days."

Chicago September Wheat ended Wednesday down 15 even at 494 even. September corn ended the day down 19 1/4 at 358 3/4. Portland prices for soft white wheat of ordinary protein for August, ended the day down 5 to 15, at mostly 5.45 1/4. Hard Red Winter wheat with 11 ½ % protein, prices for August New Crop were down 12 3/4 to 7 3/4, at mostly 5.53 1/4. DNS wheat with 14 % protein, prices for August were down 4 3/4 to 9 3/4, at mostly 6-06 1/2. August live cattle closed yesterday down $1.52 1/2, at 148.40. August Feeder cattle were up 32 1/2 cents, at 214.40. September class III milk was down 5 cents, at 16-57.