Stronger US Dollar and Cattle

This is Matt Rice with the Market Line Report for Nov. 28th. Cattle holding steady, as prices gain value from a strong US dollar. Hogs following trend, as we make our way into this holiday season. Here's Virginia McGathey from the floor of the CME in Chicago to explain more on the livestock market.

McGathey "I'm Virginia McGathey here on the floor at the CME Group with a livestock report starting with cattle. Very steady today, there has been a little bit of 2 way trade, somewhat of a stall of the market but it still looks really pretty good. I think if producers were looking for better prices for the cash market that's going to be coming on Friday, so that kind of skips over the holiday here but the markets still looks very good. We're definitely solidly off our bottom."

Chicago May Wheat prices closed the day dn 4, at 437 ¼. May corn ended the day up ½, at 365 ¾. Portland prices for soft white wheat of Ordinary Protein for March ended the day unch to dn 3 ½, ranging from 4-72 to 4-83 ¾. Hard Red Winter wheat with 11 ½ % protein, prices for March were dn ¾, ranging from 5-08 ½ to 5-23 ½. DNS wheat with 14 % protein, prices for March were dn ¼, ranging from 6-26 ¼ to 6-44 ¼. April Live Cattle closed the day up 55 cents, at 110.40. April Feeder cattle were up $1.20, at 121.50. Jan. class III milk was dn 23 cents at 16-23.