Slow and Steady Gains in Live Cattle

This is Matt Rice with today’s Market Line Report for Friday. Steady cash trade in the live cattle market even with stronger grain numbers, cattle defying the odds as they continue to slowly trend higher. Let’s go to Virginia McGathey with the CME Group to hear more.

McGathey “ .”

Chicago Soft Red Winter Wheat prices for March closed the day dn ½, to finish at 608 ¼. March. Corn up 5, to close at 437 ½. Kansas City Hard Red Winter Wheat prices for March. were dn ¾, to settle at 569 ¼.

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 ¾, ranging from 7-14 ¼ to 7-34 ¼. 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 up 1 ½, ranging from 6-93 ½ to 7-03 ½.

Live Cattle for Feb. were up $.40, closing at 114.85. March Feeder cattle were dn $.30, to finish the day at 142.30. Feb. Class III milk was dn $.19, at 16.44.