Weekly Feeder Cattle Dropping Lower
I'm Matt Rice with the Market Line Report for Feb 8th. Today we take a look at last Fridays weekly cattle review where we saw Feeder Cattle take most of the damage. Greg Sanders goes over the details with the direct weekly feeder cattle summary.Sanders- "National Slaughter Cattle Review for Thursday, Feb 4th 2016 negotiated cash trading in the Texas Panhandle and Northern plains was at a standstill. In Kansas and the western corn belt trading was mostly inactive on very light demand, not enough sales for a market trend. A few steers sold at $1.34 on a live basis."
Chicago March Wheat ended last week dn 6, at 466 ½. March corn ended Friday dn 2 ¾, at 365 ½. Portland prices for soft white wheat of ordinary protein for Feb were dn 10, ranging from 5-22 to 5-31 ¾. Hard Red Winter wheat with 11 ½ % protein, prices for Feb dn 5 ¾, ranging from 5-49 to 5-54. DNS wheat with 14 % protein, prices for Feb were dn 3 ¼, ranging from 5-96 ¼ to 6-21 ¼. Feb Live Cattle closed Friday dn $1.15, at 135.92 ½. March Feeder cattle took a hit, dn $3.25 at 153.27 ½. Feb class III milk was dn 11 cents, at 13-82.