Beef Demand Remains Strong

Beef Demand Remains Strong

Matt Rice
Matt Rice
This is Matt Rice with today’s Market Line Report for Tuesday. Cattle were steady to open the week, demand remains strong as prices slowly trend higher. Will the trend continue? Let’s go to Virginia McGathey with the CME Group to find out more.

Chicago Soft Red Winter Wheat prices for May closed the day up ¼, to finish at 627 ¼. May Corn was dn 8 ¾ to close at 549. Kansas City Hard Red Winter Wheat prices for May were dn 7 ¼, to settle at 578 ¼.

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 dn 7 ¼, ranging from 6-98 ¼ to 7-03 ¼. DNS wheat with 14 % protein, prices for May were dn 1, ranging from 7-41 to 7-51.

Live Cattle for June were up $.25, closing at 118.92 ½. May Feeder cattle were up $.42 ½, to finish the day at 145.10. April Class III milk was dn $.20, at 16.82.

Previous ReportCorn Bounces Back
Next ReportSoybeans Find Strength