Cattle Bounce Stronger

This is Matt Rice with today’s Market Line Report for Monday. Live and Feeder Cattle bounce back stronger to end the week, as Wheat makes a solid run. Virginia McGathey with the CME Group, shares her input on the beef market.

McGathey “ .”

Chicago Soft Red Winter Wheat prices for May. closed the day up 16 ¾, to finish at 614. March. Corn up 2 ¼, to close at 423 ½. Kansas City Hard Red Winter Wheat prices for March. were up 17 ¾, to settle at 581 ¼.

Portland prices for Ordinary Club Wheat was up 15- Unch, ranging from 6-40 to 6-75. Portland Hard Red Winter Wheat with 11 ½ percent Protein, for March were up 17 ¾, ranging from 7-26 ¼ to 7-46 ¼. Soft white wheat of Ordinary Protein for March ended the day Unch, ranging from 6-33 to 6-75. DNS wheat with 14 % protein, prices for April were up 7 ½, ranging from 6-83 ¼ to 7-13 ¼.

Live Cattle for Feb. were up $1.40, closing at 113.25. Jan. Feeder cattle were up $2.12 ½, to finish the day at 139.72 ½. Jan. Class III milk was dn $.09, at 16.22.