Early Cattle Rally Dies Off

This is Matt Rice with today’s Market Line Report for Monday. Live cattle rallied early in the morning on Friday to settle just above the previous day, while feeders dipped into the red. Here’s Virginia McGathey with the CME Group to hear more.

McGathey “ .”

Chicago Soft Red Winter Wheat prices for March closed the day up 3 ¾, to finish at 641 ¼. March Corn was dn 1 ½ to close at 548 ½. Kansas City Hard Red Winter Wheat prices for March. were up 6 ½, to settle at 625 ¼.

Portland prices for Ordinary Club Wheat were Unch, ranging from 7-30 to 7-55. Soft white wheat of Ordinary Protein for March was Unch, ranging from 7-10 to 7-40. Hard Red Winter Wheat with 11 ½ percent Protein, for March were up 6 ½, ranging from 7-50 ¼ to 7-65 ¼. DNS wheat with 14 % protein, prices for March was up 4 ¼, to settle at 7-31.

Live Cattle for April were up $.02 ½, closing at 123.77 ½. March Feeder cattle were dn $1.22 ½, to finish the day at 138.27 ½. March Class III milk was up $.68, at 16.69.