Cattle On Solid Foundation

This is Matt Rice with the Market Line Report for Feb 15th. Live and feeder cattle trading slightly lower over the week, but the livestock market looks to have a solid foundation to build on from here. Here is Gregg Sanders with the National Weekly cattle review with the USDA.

Sanders- "National Slaughter cattle review on Thursday negotiated cash trade and demand was light to moderate in the Texas Panhandle and Colorado. Compared to Wednesday in the Texas Panhandle, live sales sold a buck lower at $1.33, compared to last week in Colorado live sales sold a dollar lower at $1.30. On Thursday, trade and demand was moderate in Kansas, Nebraska, and the western Corn Belt. Compared to last week in Kansas, live sales sold mostly 3 lower from $1.32 to $1.33, with the bulk at $1.33."

Chicago March Wheat ended the day dn ¾, at 457 ¾. March corn ended Friday dn 1 ½, at 359. Portland prices for soft white wheat of ordinary protein for March were unch, ranging from 5-17 ½ to 5-27. Hard Red Winter wheat with 11 ½ % protein, prices for Feb we up ¼, ranging from 5-39 ¼ to 5-54 ¼. DNS wheat with 14 % protein, prices for Feb were dn 1 ¼, ranging from 6 to 6-15. Feb Live Cattle closed the day dn 12 ½ cents, at 130. March Feeder cattle were up 20 cents, at 150.45. Feb class III milk was dn a penny, at 13-87.