Limit Up For The Livestock Market
I'm Tom Allen with the Market Line Report for October 29th. Limit up for the livestock market. Todd gives you his perspective from the floor of the CME.
Horwitz - "Livestock, pretty wild day. Limit up for both live and feeder cattle. Coming up to the levels where we like to sell. 1.45 live cattle 1.95 feeder cattle. What we are really seeing here is a short coming. We're going to see some of this more here is artificial. Great opportunity to jump in and sell some more here. I think we are going to see move all the way back down on the beef because it's too expense and people can't afford it and will go into the hog's space. "
Chicago December Wheat ended yesterday down 3 1/2, at 506 1/2. December corn ended the day down 4, at 376 3/4.
Portland prices for soft white wheat of ordinary protein for December, were up dn 3.25-unch, at mostly 5.5600-5.6500 . Hard Red Winter wheat with 11 ½ % protein, prices for December were dn 2.50-up 2.50, at 5.9050-6.1050. DNS wheat with 14 % protein, prices for December were up 0.25 at 6.3100-6.6600.
October live cattle closed yesterday up $3.00, at 139.67. October Feeder cattle were also up $.95, at 193.55. October class III milk was down 1 cents, at 15-46.
