Wheat Markets End Week Higher
This week ended Friday higher for both corn and wheat with new highs for both. USDA Grain and Livestock Reporter Greg Sanders gives a cattle market update for last week.
Sanders: “This week in the Northwest we had a little over 2,000 head of cattle trade. Compared to last week, stocker and feeder cattle were steady to firm. even though CME corn prices were higher this week and feedlots are expecting steady to lower prices on their slaughter cattle. Medium large framed 1 and 2s steers sold in the country 850 to 900 pounds at $218.50 to $219 FOB Idaho. Feeder heifers medium to large framed number 1s from 700 to 750 sold from $228.50 to $229 current FOB in Idaho.”
Chicago March Wheat ended Friday up 9 cents at 6-06 and 1/2. March corn ended the day up 9 cents at 4-07 and 1/2.
Portland prices for soft white wheat were up 9 to 21 and 1/2 cents at mostly 7-26 and 1/2. White club wheat prices were up 9 cents at mostly 9-84. Hard Red Winter wheat with 11.5 percent protein prices had no price comparisons. DNS wheat with 14 percent protein prices were up 5 and 1/2 cents at mostly 9-43 and 3/4.
February live cattle were down 40 cents on Friday at 162-17 and half. March Feeder cattle were limit down for the second day at 221-25. January class III milk was down a dime at 15-80.