Weaker Grain, Stronger Feeder Cattle

This is Matt Rice with today’s Market Line Report for Tuesday. The cattle market climbing out of a bit of a hole yesterday, thanks to a weaker grain market. Here’s Virginia McGathey with the CME Group to share more on the Feeder Market.

McGathey “ .”

Chicago Soft Red Winter Wheat prices for March. closed the day dn 21, to finish at 585. March. Corn dn 7 ¾, to close at 426. Kansas City Hard Red Winter Wheat prices for March. were dn 18 ¼, to settle at 547.

Portland prices for Ordinary Club Wheat was Unch, ranging from 6-25 to 6-45. Portland Hard Red Winter Wheat with 11 ½ percent Protein, for March were dn 3 ½, ranging from 6-87 to 6-92. Soft white wheat of Ordinary Protein for March ended the day Unch, ranging from 6-20 to 6-45. DNS wheat with 14 % protein, prices for March were dn 8 ½, ranging from 6-68 to 6-98.

Live Cattle for Feb. were dn $.37 ½, closing at 112.87 ½. Jan. Feeder cattle were up $1.22 ½, to finish the day at 141.05 ½. Dec. Class III milk was dn $.18, at 15.15.