Mixed Cattle Report

This is Matt Rice with the Market Line Report for Dec. 29th. Live cattle and feeder creating a mixed market over the past 24 hrs, lower volume creating more volatility. Let's go to Virginia McGathey from the floor of the CME in Chicago to hear more on the Livestock Market.

McGathey "I'm Virginia McGathey here on the floor of the CME Group, reporting to you on the Livestock Market today. The market certainly was not exactly our turn around Tuesday, but it was mixed. We had two way trading coming in leading up ahead of the USDA report. Interestingly enough, the box cut outs, the choice was a little bit lower and the select was higher. Who knew that really creating kind of a two way market and it really started to surge after that report came out, but the rally was short lived. Some more profit taking and just the market really stalled out ."

Chicago markets, July wheat prices closed the day dn 6, at 429 ¼. Chicago July Corn prices were dn 6 ½, to close the day at 362 ¼. Prices in Portland for Soft White Winter Wheat of ordinary protein for April were dn 4 ½ - 7, ranging from 4-34 ¾ to 4-52. Hard Red Winter Wheat with 11.5 % protein, future prices for April were dn 9, at mostly 5-06. DNS Wheat with 14 % protein, prices for March were dn 7, ranging from 6-38 to 6-53. April Live Cattle closed the day up $1.17 ½, at 114.87 ½. April Feeder cattle were up 92 ½ cents, at 126.37 ½. Feb. class III milk was up 8 cents at 17-02.