Cattle Hit a Wall

This is Matt Rice with today’s Market Line Report for Monday. Live and Feeder Cattle hitting a wall at the end of the week, as traders looking for guidance after Friday’s feed report. Let’s go to Virginia McGathey with the CME Group to hear more.

McGathey “Today in the livestock market, cattle was easier. There’s higher expectations for placements coming up for the feed report. We’ll see what happens after we get the numbers and it should dictate some directions in the market certainly, starting on Monday. “

Chicago Wheat prices for Dec. closed Friday up 6 ½, to finish at 535. Dec. Corn up 1 ½, to finish the day at 341. Kansas City Hard Red Winter Wheat prices for Dec. were up 4, to close at 456 ½.

Portland prices for soft white wheat for Sep. ended the day Unch to dn 5, ranging from 5-37 to 5-40. Hard Red Winter Wheat with 11 ½ percent Protein, prices for Oct. were up 4, ranging from 6-01 ¾ to 6-16 ¾. DNS wheat with 14 % protein, prices for Oct. were up 1 ½, ranging from 6-29 to 6-54.

Live Cattle for Oct. were dn $1.22 ½, closing at 108.55. Oct. Feeder cattle dn $1.10, to finish the week at 145.27 ½. Oct. Class III milk was dn $.2, at 16.33.