Stronger Us Dollar Helps Cattle

This is Matt Rice with the Market Line Report for April 18th. Good news last week in the cattle market, the stronger Dollar has helped bring in more imports. Let's go to Greg Sanders as he explains more with the weekly USDA cattle review.

Sanders "The beef import forecast is raised, and the export is reduced from last month based on recent trading data. The strength of the US dollar continues to make the US and actractive market for imports and constrains exports. The cattle price forecast is reduced from last month on relatively weak demand and larger expected fed cattle marketing's. In Colorado a few dress sales sold ranging from $2.14 to $2.15, with the bulk at $2.14."

Chicago May Wheat ended last week unch, at 459 ½. May corn ended the day up 4 ½, at 374. Portland prices for soft white wheat of 10 ½ % protein for April were unch, ranging from 5-39 ¾ to 5-47. Hard Red Winter wheat with 11 ½ % protein, prices for April were up 2 ¾, ranging from 5-34 ¾ to 5-47 ¾. DNS wheat with 14 % protein, prices for April were up 1-6, ranging from 6-18 ½ to 6-33 ½. April Live Cattle closed the week dn 42 ½ cents at 131.67 ½. April Feeder cattle were up 12 ½ cents, at 154.70. April class III milk was dn 6 cents, at 13-71.