Cattle Gains Wiped Out

This is Matt Rice with today’s Market Line Report for Thursday. The rally in the grain market, softened cattle prices as they lost most last week’s profits. 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 7, to finish at 658 ¼. March Corn was up 1 ¾ to close at 534. Kansas City Hard Red Winter Wheat prices for March. were dn 4 ¼, to settle at 636 ¾.

Portland prices for Ordinary Club Wheat were Unch, ranging from 6-93 to 7-30. Soft white wheat of Ordinary Protein for March was Unch to up 10, ranging from 6-70 to 7-20. Hard Red Winter Wheat with 11 ½ percent Protein, for March were dn 4 ¼, ranging from 7-66 ¾ to 8-01 ¾. DNS wheat with 14 % protein, prices for March dn 5 ¼, ranging from 7-42 ¾ to 7-62 ¼.

Live Cattle for April were dn $.47 ½, closing at 122.62 ½. March Feeder cattle were dn $1.40, to finish the day at 140.07 ½. March Class III milk was dn $.09, at 16.65.