Wheat Bounces Back

I’m KayDee Gilkey with the Market Line Report for March 3, 2014.

 

On Friday Wheat had a nice bounce back after Thursday’s losses. I spoke with Moses Lake’s USDA Livestock and Grain Market News Reporter Greg Sanders. He shares the Northwest beef cattle price update for the last week.

 

Sanders: “Market jumped up quite a bit this week because fat cattle on Wednesday and from Wednesday on went from in the mid- $140 up to $152 this week. Most of the trade around the Pacific Northwest traded on Wednesday and and 850-weights to 900-weights brought anywhere from $165 to $166 and 850-weight heifers brought anywhere from $154 to $158.”

 

Chicago May Wheat ended Friday up 13 cents at 6-02 and 1/4. May corn ended the day up 9 cents at 4-63 and 1/2.

 

Portland prices for soft white wheat were mixed down 7 and 3/4 to up 13 cents at mostly 7-21 and 3/4. White club wheat prices were up 13 to 22 and 1/4 cents at mostly 7-80 and 1/2. Hard Red Winter wheat with 11.5 percent protein prices were up 8 and 1/2 to 13 and 1/2 cents at mostly 8-34. DNS wheat with 14 percent protein prices were up 8 to 13 cents at 8-51 and 1/4.

 

April live cattle were up 52 and half cents Friday at 144-97 and half. April Feeder cattle were down 32 and half cents at 173.07 and half. April class III milk was down 12 cents at 20-85.