Strength In The Beef Market

This is Matt Rice with today’s Market Line Report for Thursday. More strength in the cattle market, as feeders finish higher for the 4th day in a row. Here’s Virginia McGathey with the CME Group to share more.

McGathey “ .”

Chicago Soft Red Winter Wheat prices for March closed the day dn 1 ¼, to finish at 598 ½. March. Corn up 2 ½, to close at 427 ¼. Kansas City Hard Red Winter Wheat prices for March. were dn 4 ½, to settle at 566.

Portland prices for Ordinary Club Wheat was Unch, ranging from 6-40 to 6-75. Portland Hard Red Winter Wheat with 11 ½ percent Protein, for March were dn 4 ½, ranging from 7-06 ½ to 7-26 ½. Soft white wheat of Ordinary Protein for March was Unch, ranging from 6-50 to 6-70. DNS wheat with 14 % protein, prices for March were dn ¾, ranging from 6-83 ¾ to 6-93 ¾.

Live Cattle for Feb. were up $.90, closing at 113.77 ½. Jan. Feeder cattle were up $.75, to finish the day at 140.85. Feb. Class III milk was dn $.51, at 17.30.