Weekly Cattle Update

This is Matt Rice with the Market Line Report for Monday Oct 31st. Demand has been regaining it's composure in the beef market as numbers continue to bounce back from the previous 2 week lows. Let's check in with Greg Sanders with the USDA National Slaughter Cattle Review.

Sanders "National Slaughter cattle review for Thursday, Oct. 27th, 2016. Box beef cut-out values were lower on choice and firm on selects on light to moderate demand and moderate offerings. Select and choice ribs and round cuts were steady to firm, while loin cuts were weak. Select cuts were firm while choice were weak, beef trimmings sharply higher with moderate to good demand and light offerings."

Chicago May Wheat prices closed Friday dn 5, at 443 ¾. May corn ended the week dn 2 ¾, at 370 ½. Portland prices for soft white wheat of Ordinary Protein for Feb. ended the day unch- dn 5 ¼ ranging from 4-78 to 4-93 ¼. Hard Red Winter wheat with 11 ½ % protein, prices for Feb. were dn 5 ¾, ranging from 5-04 ¼ to 5-19 ¼. DNS wheat with 14 % protein, prices for Feb. were dn ¾, ranging from 6-30 ¾ to 6-53 ¾. Feb. Live Cattle were dn 62 ¼ cents, at 105.05. March Feeder cattle were dn $2.32 ½ at 113.42 ½. Dec. class III milk was up 20 cents at 15-58.