Optimism In Beef

This is Matt Rice with today’s Market Line Report for Tuesday. Optimism in the beef complex as Feeders slide higher once again. 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 up 3, to finish at 611 ¼. March. Corn up 2 ½, to close at 440. Kansas City Hard Red Winter Wheat prices for March. were up 5 ¼, to settle at 574 ½.

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 up 5 ¼, ranging from 7-19 ½ to 7-39 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 up 1 ¾, ranging from 6-95 ¼ to 7-05 ¼.

Live Cattle for Feb. were dn $.20, closing at 114.65. March Feeder cattle were up $.82 ½, to finish the day at 143.12 ½. Feb. Class III milk was up $.01, at 16.45.