Volatile Cattle Market

I'm Matt Rice with the Market Line Report for December 11th. We saw a volatile cattle market yesterday morning, however after the market closed numbers showed strength by the end of the day. Oliver Sloup goes over the details from the floor of the CME with II Trader.

Sloup- "From the floor of the CME, here in Chicago this is Oliver Sloup with II Trader and your meat market update. It continues to be a very volatile live cattle and feeder cattle in particular. Limit down yesterday, but wasn't able to get the follow through, through the morning session. We did trade lower at the open, but we saw some buyers coming in, which is nice to see for the bulls, they're seeing the demand pick up a little bit."

Chicago December Wheat ended yesterday up 6 3/4, at 487 3/4. December corn ended yesterday up 5 1/2, at 377. Portland prices for soft white wheat of ordinary protein for Jan were up 5 3/4, ranging from 4-95 1/2 to 5-34. Hard Red Winter wheat with 11 ½ % protein, prices for Dec. were up 9 1/4, ranging from 5-69 3/4 to 5-79 3/4. DNS wheat with 14 % protein, prices for Dec. were up 5 3/4, ranging from 6-40 1/2 to 6-55 1/2. Dec. live cattle closed yesterday up $1.15, at 121.00. Jan. Feeder cattle were up $2.02 1/2, at 152.65. Dec. class III milk was up a penny at 14-61.