03/14/06 Cattle get BSE news; wheat futures down

03/14/06 Cattle get BSE news; wheat futures down

Marketline March 14, 2006 Cattle futures were unchanged to higher Monday even though the market knew USDA was testing another possible case of BSE in the U.S. However, after the futures closed USDA confirmed BSE in a older Alabama cow and some analysts are calling for a lower open today. Other observers say consumers have become used to these stories. On Monday April live cattle up 17 cents at 83-63. April feeders up 47 at 103-43. April Class III milk down four cents at 11-05. Wheat futures plummeted Monday. Vic Lespinasse of A. G. Edwards at the Chicago Board of Trade, says weather was the reason. Lespinasse: "The wheat market was especially weak in Kansas City led by new crop July amid expectations for wide spread rain in the dry areas of the southwest wheat belt by this weekend. That kept pressure on the wheat market all day." New crop Kansas City futures were down 22 cents Elsewhere on Monday, May Chicago wheat was down 14 cents at 3-67 ½. May corn down 5 ¾ at 2-28 ¾. Portland cash white wheat only one to three cents lower at mostly 3-56. August new crop 3-61 to 3-67. Club wheat 3-96. HRW 11.5 percent protein down 18 cents at 4-75. Dark northern spring 14% protein down 13 at 5-33. No barley bids. I'm Bob Hoff and that's Marketline on the Northwest Ag Information Network. Now this.
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