Cattle Shifting Up

This is Matt Rice with the Market Line Report for April 26th. As we look at the cattle market, compared to last week, prices are shifting back up. Let's go to Gary Kozlowski as he shares more with Farr Financial from the floor of the CME.

Kozlowski "Good afternoon, Gary Kozlowski with Farr Financial coming to you from the CME Group. Let's start off with the cattle today, we're seeing falling waits. We almost saw limit down in both live and feeders and it did pull off of those lows in the morning and it did come very close to hitting limits. Slaughter is up the falling weights, still no bottoms seen as of yet. We're hitting some pretty low numbers for this time of year. Cattle on feed report comes out at the end of trading today."

Chicago May Wheat prices were up 4 ¼ yesterday, at 470 ¾. May corn ended the day up 5 ¼, at 379. Portland prices for soft white wheat of 10 ½ % protein for May were up 4 ¼ -unch, ranging from 5-31 ¼ to 5-75. Hard Red Winter wheat with 11 ½ % protein, prices for April up ¾, at 5-47 ½. DNS wheat with 14 % protein, prices for April were up 2 ¼, ranging from 6-17 ¾ to 6-37 ¾. April Live Cattle closed Monday up 82 ½ cents at 125.30. April Feeder cattle were dn $1.92 ½, at 145.87 ½. April class III milk was dn a penny at, 13-64.