Optimism in Beef Market

This is Matt Rice with today’s Market Line Report for Thursday. Cattle continue to climb as the food industry begins to open up providing more opportunity and optimism in the beef market. Let’s go to Virginia McGathey with the CME Group to hear more.

McGathey “ .”

Chicago Soft Red Winter Wheat prices for May closed the day dn 7, to finish at 640. May Corn was up 3 ¾ to close at 558. Kansas City Hard Red Winter Wheat prices for May were dn 7 ¼, to settle at 601.

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, prices for May dn 7 ¼, ranging from 7-21 to 7-26. DNS wheat with 14 % protein, prices for May were dn 4 ½, ranging from 7-48 ¼ to 7-58 ¼.

Live Cattle for June were up $57 ½, closing at 122.02 ½. May Feeder cattle were up $.45, to finish the day at 150.17 ½. May Class III milk was dn $.12, at 17.93.