Feeder Cattle Softer With Feed Costs On The Rise

This is Matt Rice with today’s Market Line Report for Thursday. Cattle trading softer yesterday, higher feed cost seems to be one of the bigger hurdles currently for the beef market. Here’s Virginia McGathey with the CME Group to explain more.

McGathey “ .”

Chicago Soft Red Winter Wheat prices for March closed the day dn 6 ½, to finish at 647 ½. March Corn was up 3 ¼, to close at 495. Kansas City Hard Red Winter Wheat prices for March. were dn 5 ¾, to settle at 603 ½.

Portland prices for Ordinary Club Wheat was Unch, ranging from 6-60 to 6-93. Portland Hard Red Winter Wheat with 11 ½ percent Protein, for March were dn 5 ¾, ranging from 7-38 ½ to 7-68 ½. Soft white wheat of Ordinary Protein for March was Unch, ranging from 6-40 to 6-85. DNS wheat with 14 % protein, prices for March were dn 1, ranging from 7-31 ¼ to 7-36 ¼.

Live Cattle for Feb. were dn, $.05, closing at 115.00. March Feeder cattle were dn $.85, to finish the day at 136.56 ½. Feb. Class III milk was up $1.17, at 19.04.