Cattle Hit Wall

This is Matt Rice with the Market Line Report for March 28th. Live and Feeder cattle hitting a wall, down 5 days in a row. Greg Sanders goes over the Weekly Cattle review with the USDA.

Sanders "This week we had 3450 head of feeder cattle compared to last Friday. Compared to last Friday, feeder cattle staged to 2 lower in a light test. Trade slow to moderate, demand was light to moderate also. This last week the CME Futures feeder cattle price has seen 5 straight down sessions. Most of the trading that took place happened at the end of last week. Feeder steers, medium and large framed 1 and 2's current FOB price 850-900 lbs $1.44- $1.46 in WA."

Chicago May Wheat ended last week unch at 463 ¼. May corn ended the day up 1 ½, at 369 ¾. Portland prices for soft white wheat of 10 ½ % protein for March were up 5, ranging from 5-38 to 5-43. Hard Red Winter wheat with 11 ½ % protein, prices for March were dn ½, ranging from 5-41 ¾ to 5-51 ¾. DNS wheat with 14 % protein, prices for March were up 2, ranging from 6-04 to 6-14 even. April Live Cattle closed yesterday up 40 cents, at 135.97 ½. March Feeder cattle were dn 42 ½ cents, at 160.97 ½. March class III milk was dn 4 cents, at 13-78.