Choppy Cattle Session

This is Matt Rice with the Market Line Report for April 8th. As we take a look into June hedging, live and feeder cattle are testing those down limits, producers looking for better prices as this 2nd quarter gets rolling. Oliver Sloup with II Trader goes into more detail from the floor of the CME in Chicago.

Horwitz "It's been a choppy session after a volatile start to the week. We've seen cattle trade both sides of unchanged here today, catching a late day bid. Managed to hold some key support, we got down towards that $1.20 level in that June contract and that wasn't really what we were looking for. We were looking for a little bit more pressure in the market. $118.77- $119.07 is very key technical level support."

Chicago May Wheat ended yesterday dn 6 at 457 ¾. May corn ended the day up 3 ½, at 361 ½. Portland prices for soft white wheat of 10 ½ % protein for April were dn 6- 1, ranging from 5-32 to 5-42. Hard Red Winter wheat with 11 ½ % protein, prices for April were dn 7, ranging from 5-31 ¼ to 5-34 ¼. DNS wheat with 14 % protein, prices for April were dn 3, ranging from 6-08 ½ to 6-13 ½. April Live Cattle closed yesterday up 35 cents, at 132.20. April Feeder cattle were up 97 ½ cents, at 153.72 ½. April class III milk was up 2 cents, at 13-72.