Cattle On The Gain

I'm Matt Rice with the Market Line Report for Dec. 22nd. Bullish market for cattle has helped over the last couple of days, cattle limit up in both live and feeder cattle. Here's Jack Scoville with the livestock market update from the floor of the CME in Chicago.

Scoville- "Hi, it was another limit up day for about the first have of the session in both the feeder and live cattle. Both those markets just started trading in the second half of the session and came off limit, but still are looking to close with some very strong gains. So 2 days of limit up to near limit up for both live and feeder cattle."

Chicago March Wheat ended yesterday dn 7 ¾, at 480 1/4. March corn ended yesterday dn 2 1/2, at 372 1/4. Portland prices for soft white wheat of ordinary protein for Jan, had a mixed market dn 7 ¾ and up 15, ranging from 4-79 to 5-45. Hard Red Winter wheat with 11 ½ % protein, prices for Dec. were dn 8 1/2, ranging from 5-53 3/4 to 5-63 3/4. DNS wheat with 14 % protein, prices for Dec. were dn 14 1/4, ranging from 6-12 to 6-42. Dec. live cattle closed yesterday up $2.72 1/2, at 122.87 1/2. Jan. Feeder cattle took a big jump back up $6.75, at 155.50. Dec. class III milk was up a penny, at 14-53.