Livestock Market At Pivotal Point

Livestock Market At Pivotal Point

Matt Rice
Matt Rice
This is Matt Rice with the Market Line Report for Feb 9th. After Tuesdays close in the livestock, we saw some mixed market, looking for some more demand to continue this rebound. Todd Horwitz goes over the details from the floor of the CME in Chicago.

Horwitz- "Tuesdays Livestock, we've seen a little bit of pressure a little bit of positive, its really a mixed market. I think the biggest note from here, feeders have broken down through that level, now we are at the original level where we wanted to get in. We thought we would build in the middle $1.50's an area, but now we are seeing that we are below there in the high $1.40's. Which was actually my original target, here we are in fairly solid shape."

Chicago March Wheat ended the day dn 1, at 457 ¾. March corn ended yesterday dn 1 ¼, at 361 ¼. Portland prices for soft white wheat of ordinary protein for Feb were unch, ranging from 5-22 to 5-23 ½. Hard Red Winter wheat with 11 ½ % protein, prices for Feb dn ½, ranging from 5-40 to 5-45. DNS wheat with 14 % protein, prices for Feb were up 1 ¼, ranging from 5-92 ½ to 6-17 ½. Feb Live Cattle closed the day dn $1.20, at 131.85. March Feeder cattle were up 95 cents, at 150.27 ½. Feb class III milk was up 4 cents, at 13-82.

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