Beef Demand Picks Up

This is Matt Rice with today’s Market Line Report for Tuesday. Cattle firm up to kick off the week with Live and Feeders both moving off the bottom as demand continues to pick up. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for May closed the day up 6 ½, to finish at 645. March Corn was up 10 ½ to close at 549 ½. Kansas City Hard Red Winter Wheat prices for May were up 3 ¼, to settle at 606 ¾.

Portland prices for Ordinary Club Wheat were Unch, ranging from 7-40 to 8-00. Soft white wheat of Ordinary Protein for May was Unch, ranging from 7-20 to 7-65. Hard Red Winter Wheat with 11 ½ percent Protein, for May were up 3 ¼, ranging from 7-26 ¾ to 7-36 ¾. DNS wheat with 14 % protein, prices for April were up 5 ¼, ranging from 7-54 to 7-64.

Live Cattle for June were up $1.35, closing at 121.77 ½. April Feeder cattle were up $.70, to finish the day at 143.92 ½. April Class III milk was dn $.19, at 17.52.