Double Digit Losses in Wheat Markets

Double Digit Losses in Wheat Markets

I’m KayDee Gilkey with the Market Line Report for December 22, 2014.

 

Wheat markets ended Friday with double digit losses but both the fats and feeder cattle futures ended the day in positive territory. USDA Grain and Livestock Reporter Greg Sanders reports on the light cattle trading last week in the region.

Sanders: “Northwest direct cattle we had 460 head traded this week compared to last week. Not enough stocker or feeder cattle reported this week for accurate trends. Trade was slow with light demand. As the feeder cattle prices on the CME bar were lock level down for five sessions in a row then at the end of the week the CME on feeder cattle turned positive. Feeder steers medium-large frame #1s for December delivery 650 to 700 pounds $225 per hundred weight. Feeder Holsteins large frame #2s and #3s for current delivery 350 pounds $265 per hundred weight current FOB.”

Chicago March Wheat ended Friday down 23 cents at 6-32 and 1/4. March corn ended the day down a half of a cent at 4-10 and 1/2.

Portland January prices for soft white wheat of ordinary protein were steady to down 23 cents ranging between 6-90 and 7-17 and 1/4. White club white had no price comparisons. Hard Red Winter wheat with 11.5 percent protein January prices were down 17 and 3/4 cents ranging between 7-51 and 7-66. DNS wheat with 14 percent protein January prices were down 12 and 3/4 cents ranging between 9-33 and 1/4 to 9-48 and 1/4.

February live cattle were up $1.57 and half on Friday at 160-10. March Feeder cattle were up $4.20 at 217-97 and half. January class III milk was up 17 cents at 16-40.

 

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