Cattle In The Red

This is Matt Rice with the Market Line Report for March 8th. Live and feeders coming in lower on the day but more demand predicted in the near future. Virginia McGathey covers more from the floor of the CME in Chicago.

McGathey "Monday in the livestock market had a little bit of a mixed bag. There has been some easing and profit taking on the cattle market, the optimism for demand is strained just a little bit. Prices are lower in the grocery store, we expect more demand coming in. This really gave the market a lift last week. That being said, the market hasn't really come off that much. So there is still some strength in the market, and maybe this profit taking will be short lived."

Chicago March Wheat ended the week up 3, at 462 ¼. March corn ended the week up ¾, at 354 ½. Portland prices for soft white wheat of 10 ½ % protein for March were up 3-7, ranging from 5-38 to 5-50. Hard Red Winter wheat with 11 ½ % protein, prices for March were up 6-2, ranging from 5-54 ¾ to 5-55 ¾. DNS wheat with 14 % protein, prices for March were up 8-3, ranging from 6-05 ¾ to 6-15 ¾. April Live Cattle closed yesterday dn 40 cents, at 136.92 ½. March Feeder cattle were dn 55 cents, at 157.90. March class III milk was up 9 cents, at 13-87.