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Cattle Market Hits 8 Week High
by Matt Rice, click here for bio
Program: Market Line
Date: March 21, 2017
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McGathey “I’m Virginia McGathey here on the floor at the CME Group, reporting to you on the Livestock Market. Cattle today makes a new 8 week high, the market surging all day. Starting to have a little profit taking coming out but it’s climbing on beef prices they continue to rally and they’re pushing the futures higher. Certainly the bulls are in control trying to break out of the resistance level and could possibly could happen.”
Chicago markets, Sept. wheat prices closed the day dn 6, at 460. Chicago Sept. Corn prices were dn 3 ¾, to finish the day at 378. Prices in Portland for Soft White Winter Wheat of ordinary protein for Aug. NC had a mixed market dn 6 and up 6, ranging from 4-55 ¾ to 4-73. Hard Red Winter Wheat with 11.5 % protein, future prices for Aug. NC were dn 8, ranging from 5-31 ¾ to 5-46 ¾. DNS Wheat with 14 % protein, prices for Aug. NC were dn 2, ranging from 6-73 ¼ to 6-78 ¼. Aug. Live Cattle finished the day up 20 cents, at 105.65. May Feeder cattle were up 90 cents, at 131.47 ½. May class III milk was dn 15 cents at 15-25.
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