Weekly Cattle Report

This is Matt Rice with the Market Line Report for Oct 10th. Over the week we watched the cattle market continue to drop. Let's go to Greg Sanders as he shares more on the market, compared to last week with the USDA.

Sanders "Thank you and good morning everyone, this week we had 1,800 head of feeder cattle trade. Compared to last Friday, feeder cattle were $7-$8 lower in a light test. Cattle futures in live slaughter cattle closed last week and this week sharply lower. August beef production was up 17% from last year at 2.26 billion lbs and up 12 % from July 2016. Feeder steers medium and large frames 1 and 2's FOB price 850 lbs, $1.17- $1.19 in WA and OR."

Chicago March Wheat prices closed the week dn 2 ¼, at 414. March corn ended Friday dn ¾, at 349 ¾. Portland prices for soft white wheat of Ordinary Protein for Feb. ended the day dn 2 ¼ - unch, ranging from 4-84 ¾ to 4-95. Hard Red Winter wheat with 11 ½ % protein, prices for Feb. were dn 2, ranging from 4-94 ½ to 5-09 ½. DNS wheat with 14 % protein, prices for Feb. were dn 2 ¾, ranging from 6-25 ¼ to 6-43 ¼. Feb. Live Cattle were up 12 ½ cents, to finish the week at 103.62 ½. Jan. Feeder cattle were dn 22 ½ cents, at 118.35. Nov. class III milk was dn 10 cents at 15-38.