Mixed Cattle Market

This is Matt Rice with the Market Line Report for March 10th. Cattle saw a mixed market after yesterdays' close, live and feeders looking for more demand to get things rolling. Todd Horwitz covers more from the floor of the CME in Chicago.

Horwitz "Wednesday's Livestock we saw pretty much mixed markets across the board here. Live and feeders, both sides unchanged, again I look at these as upper level. I'm bullish to space, but for me to really want to step in here and commit new money. I want to see a sell off or I'm not getting involved until I can find a new level. Right here I think, you've got a better chance to break to the downside, than you do to the upside. I think you want to look in live cattle, $1.31- $1.32, maybe $1.34. Feeders you want to look at $1.50- $1.52, maybe $1.55."

Chicago March Wheat ended the day up 2 ½, at 463 ½. March corn ended the day up ¼, at 359 ½. Portland prices for soft white wheat of 10 ½ % protein for March were unch, ranging from 5-38 to 5-50. Hard Red Winter wheat with 11 ½ % protein, prices for March were up 4 ¾, ranging from 5-59 ¾ to 5-60 ¾. DNS wheat with 14 % protein, prices for March were up 1 ¼, ranging from 6-10 to 6-20. April Live Cattle closed yesterday dn 35 cents, at 137.00. March Feeder cattle were up 7 ½ cents, at 159.22 ½. March class III milk was dn 7, at 13-80.