Livestock Market Stronger On The Day

This is Matt Rice with the Market Line Report for March 30th. After yesterday's market came to a close we have seen good demand in cattle and hogs. Virginia McGathey explains more from the floor of the CME Group.

McGathey "Tuesday in the livestock market has both cattle and hogs stronger. Even though we've had 2 sessions of really wild volatility compared to the last couple of weeks, the market came back very strong again today. There has been demand that has been sluggish, however, optimism for future demand really looks good has kept the market higher. Feeder cattle have also been strong and that tells us that in the next few months we expect the market to move."

Chicago May Wheat ended yesterday up 5 ¾ at 475 ¾. May corn ended the day up 2 ½, at 373. Portland prices for soft white wheat of 10 ½ % protein for March were unch- up 5 ¾, ranging from 5-38 to 5-56 ¾. Hard Red Winter wheat with 11 ½ % protein, prices for March were up 4 ¾, ranging from 5-56 ¾ to 5-61 ¾. DNS wheat with 14 % protein, prices for March were up 4 ½, ranging from 6-12 ¼ to 6-22 ¼. April Live Cattle closed yesterday dn 25 cents, at 134.65. April Feeder cattle were dn 50 cents, at 156.02 ½. April class III milk was dn 4 cents, at 13-80.