Market Line Report Thur Jan-5 2017

This is Bob Larson with the Market Line Report for Thurs. Jan 5th. The easing U.S. Dollar Index appears to have helped the market on Wednesday. Here's Virginia McGathey with more from the floor of the CME in Chicago.

MCGATHEY-"We've had a quiet, shortened week after the holiday, but today we had a little bit of a rebound after yesterday's sell-off. There's been some wholesale beef prices that really brought in some buying and really strengthened the market somewhat. We thought there might be a wash-out, but that didn't happen. Right now, we're looking at after-holiday reset for food managers. That definitely also helps to support the market. They're coming in from restaurants and grocery stores to really come in a start to replenish what they sold over the holidays. The market today is really up about .4 percent, almost a half a percent in just one day, up to 1-15 so that's definitely before the cash market comes out right now, but I will say the market still looks very strong."

Chicago May Wheat prices closed yesterday up 11 ¼ at 428 1/4. May corn ended the day up 4 ¼ , at 365 ¾

Portland prices for soft white wheat of Ordinary Protein for March ended the day up 7 ½ ranging from 4-53 ½ to 4-63 ½ Hard Red Winter wheat with 11 ½ % protein, prices for March were up 12 ½, ranging from 5-16 ½ to 5-26 ½ . DNS wheat with 14 % protein, prices for March were up 7 ranging from 6-49 ½ to 6-69 ½ .

Live Cattle were up $0.82 ½ , at 115.70. March Feeder cattle were dn $1.27 ½ at 123.80 . Jan. class III milk was dn 17 cents at 17.00.