Hogs Struggle

This is Matt Rice with the Market Line Report for Sept 15th. Cattle continue to climb while hogs still searching for more demand. Let's go to Jack Scoville to hear more about the livestock commentary from the floor of the CME in Chicago.

Scoville "Hi, it's been a higher day in the livestock pits here today with lower prices trading here with the hogs. The livestock market, the cattle market, the feeder cattle market saw a reversal day on Friday, we've seen some follow through buying here today. No real news here today based off the USDA Reports under the supply demand estimates. Those estimates look to remain mostly neutral but ideas are that the market has become so desperately oversold and after the October traded below a dollar briefly last week. The markets been nothing but see some short covering."

Chicago March Wheat prices closed yesterday up 2 ¾, at 424. March corn ended the day up 1 ¾, at 343 even. Portland prices for soft white wheat of Ordinary Protein for Dec. ended the day up 2-unch, ranging from 4-73 to 4-91. Hard Red Winter wheat with 11 ½ % protein, prices for Dec. were up 2 ½ - 17 ½, ranging from 5-03 ¼ to 5-28 ¼. DNS wheat with 14 % protein, prices for Dec. had a mixed market dn ¼ & up 9 ¾, ranging from 5-88 to 6-13. Feb. Live Cattle were up 47 ½ cents, to finish the day at 106.55. Nov. Feeder cattle were dn 37 ½ cents, to close the day at 128.30. Nov. class III milk was Dn 5 cents at 16-40.