Week 1 Livestock 2017

This is Matt Rice with the Market Line Report for Jan. 9th. As we kick off the New Year, the cattle market has been sluggish over the first week of 2017 but demand looking to pick up. Let's go to Virginia McGathey from the floor of the CME in Chicago to hear more on the Livestock Market.

McGathey "Well we finished the first week, even though it's a shorter week of 2017 and there's a few things to be said. The cattle market is lower, it has been we've got a lot of selling coming in, certainly putting a lid on the market. Wholesale beef prices were really sharply lower all week, and we're at the end coming in seasonally where we're following the peak month of the year December."

Chicago markets, July wheat prices closed the day dn 1, at 448. Chicago July Corn prices were dn 2 ¾, to close the day at 372 ½. Prices in Portland for Soft White Winter Wheat of ordinary protein for April were unch to dn 1 ¾, ranging from 4-45 to 4-56 ¾. Hard Red Winter Wheat with 11.5 % protein, future prices for April were dn 1, ranging from 5-30 to 5-35. DNS Wheat with 14 % protein, prices for April were up 2 ¼, ranging from 6-57 to 6-72. June Live Cattle closed the day up 2 ½ cents at 104.00. April Feeder cattle were up 7 ½ cents, at 123.72 ½. Feb. class III milk was up 28 cents at 16-98.