Cattle Continue Rally

This is Matt Rice with today’s Market Line Report for Tuesday. More optimism in the beef market as prices rally to start the week. 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 3 ½, to finish at 616 ¾. May Corn was dn 5 ¾ to close at 546 ¾. Kansas City Hard Red Winter Wheat prices for May were up 1 ¼, to settle at 569 ½.

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 1 ¼, ranging from 6-89 ½ to 6-94 ½. DNS wheat with 14 % protein, prices for May were dn 3 ¼, ranging from 7-20 ¾ to 7-35 ¾.

Live Cattle for June were up $.87 ½, closing at 122.65. May Feeder cattle were up $2.32 ½, to finish the day at 152.20. May Class III milk was up $.20, at 17.52.