Has been an issue for at least a few snapshots now. Fishing is still functional, items come to your inventory properly, seems to just be a graphics or placement glitch. Happens in both gamemodes and for enchanted or nonenchanted rods.
MC-48984
Fishing rod string comes out of your feet
Resolved
Duplicate
0
Remy Z
(Unassigned)
Unconfirmed
Minecraft 14w07a
Retrieved
Duplicate of MC-47571 - If you have not, please use the search function in the future, to see if your bug has already been submitted. If you could not find the original report, please comment with the keywords you searched for.