The viscosities of a dilute suspension of ferromagnetic rod-like particles are computed in a general situation in which a homogeneous stationary flow and a magnetic field are imposed on the system. For this purpose, the corresponding Smoluchowski equation giving the probability density for the orientations of the particle has been solved. After using an expression for the stress tensor we obtain the viscosities as functions of the Langevin parameter and the aspect ratio of the particles. Finally, the shear and elongational viscosities are given for particle directions of the magnetic field.