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Neck and Neck Cattle Market
by Matt Rice, click here for bio
Program: Market Line
Date: February 28, 2017
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McGathey “Monday, today the market was higher in the Live cattle, the market had a decent recovery from getting close to the months end and certainly the positioning that’s going on before Wednesday, gave it a little bit of a boost. Now on Friday, they the cattle on feed report and that was really absolutely neutral and so maybe this sell off was a little too much.”
Starting with those Chicago markets, July wheat prices closed the day dn 8 ¾, at 453 ¾. Chicago July Corn prices were dn 2 ½, to finish the Friday at 376 ¼. Prices in Portland for Soft White Winter Wheat of ordinary protein for Aug. NC were dn 8 ½ to unch, ranging from 4-63 ½ to 4-79. Hard Red Winter Wheat with 11.5 % protein, future prices for May were dn 10, ranging from 5-37 to 5-42. DNS Wheat with 14 % protein, prices for May were up 4 ½ and dn ½, ranging from 6-58 ¼ to 6-83 ¼. June Live Cattle finished the day up 77 ½, at 105.55. May Feeder cattle were up $2.02 ½, at 122.77 ½. March class III milk was dn 14 cents at 16-13.
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