Weekly Cattle Review

This is Matt Rice with the Market Line Report for May 9th. In cattle this week, feeders on the gain as buyers tread cautiously into the market. Greg Sanders covers more on the weekly feeder cattle summary.

Sanders "Thank you and good morning everyone, here's the northwest direct feeder cattle summary for Thursday, for WA, OR, & ID for May 6th, 2016. This week we 800 head of feeder cattle trade. Compared to last Friday, feeder cattle were weak to $5 lower on a light test. Trade slow this week as buyers remain cautious, and most activity in the California markets. Demand remains light to moderate, feeder steers medium large frames 1 & 2's, current F.O.B. price 650-700 lbs, $1.65 in WA."

Chicago May Wheat prices were up ¼ from Friday, at 453 ½. May corn ended the week up 4 ¼, at 376. Portland prices for soft white wheat of 10 ½ % protein for May were up ½ -unch, ranging from 5-33 ¾ to 5-75. Hard Red Winter wheat with 11 ½ % protein, prices for May were up ¾, ranging from 5-26 ½ to 5-38 ½. DNS wheat with 14 % protein, prices for May were up ¼- 3 ¼, ranging from 6-21 to 6-35. June Live Cattle closed the week up $1.10, at 120.87 ½. May Feeder cattle were dn 57 ½ cents, at 147.70. June class III milk was dn 10 cents at, 12-91.