Feeder Cattle Bounce Back

This is Matt Rice with today’s Market Line Report for Tuesday. Feeder Cattle surprisingly find some bounce back in the market, while contending with higher corn prices . Virginia McGathey with the CME Group shares more.

McGathey “ .”

Chicago Soft Red Winter Wheat prices for March closed the day dn 4, to finish at 634 ¾. March Corn was dn 3 ½, to close at 492 ¼. Kansas City Hard Red Winter Wheat prices for March. were dn ¾, to settle at 594.

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 ¾, ranging from 7-29 to 7-59. Soft white wheat of Ordinary Protein for March was Unch, ranging from 6-40 to 7-00. DNS wheat with 14 % protein, prices for March were dn 1 ¾, ranging from 7-31 to 7-36.

Live Cattle for Feb. were dn, $1.07 ½, closing at 113.40. March Feeder cattle were up $.07 ½, to finish the day at 136.90. Feb. Class III milk was dn $.27, at 19.43.