Cattle Market Looking For More Demand

I'm Matt Rice with the Market Line Report for November 17th. The cattle market is looking for more demand before the New Year, producers ready for a rally. Here's Gary Kozlowski with the livestock market update from the floor of the CME in Chicago.

Kozlowski- "Alright lets start off with the cattle, the first thing we are looking at is the lowest prices we've had in almost 2 years with wheat. A slight rally on Tuesday, started to get everybody a little more on the positive side. We started to look at that $1.25 but we've dipped back down to that $1.23 range. Looking for more rallying the prices right now, we are getting closer to the end of the season. All of the inventory are at the retail end right now."

Chicago March Wheat ended yesterday dn 10 3/4, at 484 3/4. March corn ended yesterday dn 7 1/2, at 370 3/4. Portland prices for soft white wheat of ordinary protein for Jan, were dn 10 3/4, ranging from 4-83 1/2 to 5-28 even. Hard Red Winter wheat with 11 ½ % protein, prices for Dec. were dn 1 1/4, ranging from 5-61 to 5-71. DNS wheat with 14 % protein, prices for Dec. were dn 7, ranging from 6-25 3/4 to 6-45 3/4. Dec. live cattle closed yesterday dn 90 cents, at 119.40. Jan. Feeder cattle were dn $1.32 1/2, at 147.20. Dec. class III milk was down 5 cents, at 14-53.