Lower Dollar

This is Matt Rice with the Market Line Report for Jan. 6th. Looking at the livestock market, cattle have been gaining demand as the dollar finished the day weaker. Let's go to Scott Shellady from the floor of the CME in Chicago to hear more on the cattle market.

Shellady "The dollar got hit hard again today after the NAP and I think, lets take a look at Live Cattle. Here's a good example of how some outside markets can really start to affect what we trade. First of all in front of non-farm a lot of time, it doesn't matter what your trading you'll see things kind of get defensive, or trade mixed and it looks as though today that was the case in the cattle market. While we did spend some time lower on the day across the board, we ended up kind of mixed closing going home and again that's because of the big number that we had."

Chicago markets, July wheat prices closed the day up 7 ¼, at 448 ½. Chicago July Corn prices were up 2, to close the day at 374 ½. Prices in Portland for Soft White Winter Wheat of ordinary protein for April were dn 5 and up 1 ¼, ranging from 4-45 to 4-58 ½. Hard Red Winter Wheat with 11.5 % protein, future prices for April were up 8, ranging from 5-31 to 5-36. DNS Wheat with 14 % protein, prices for April were up 4 ¼, ranging from 6-54 ¾ to 6-69 ¾. April Live Cattle closed the day dn 35 cents at 103.80. April Feeder cattle were dn 5 cents, at 123. 47 ½. Feb. class III milk was dn 14 cents at 16-70.