Feed Prices Drive Feeders Down

This is Matt Rice with today’s Market Line Report for Thursday. A difficult day in the cattle market as the jump in feed prices drives feeders down. 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 16 ¼, to finish at 618. May Corn was up 25, to close at 564 ¼. Kansas City Hard Red Winter Wheat prices for May were up 17 ¼, to settle at 575 ¾.

Portland prices for Ordinary Club Wheat were Unch, ranging from 7-50 to 8-00. Soft white wheat of Ordinary Protein for May was Unch, ranging from 6-80 to 7-65. Hard Red Winter Wheat with 11 ½ percent Protein, for May were up 17 ¼, ranging from 6-95 ¾ to 7-00 ¾. DNS wheat with 14 % protein, prices for May were up 9, ranging from 7-20 ¾ to 7-35 ¾.

Live Cattle for June were up $.67 ½, closing at 122.90. May Feeder cattle were dn $2.80, to finish the day at 149.40. May Class III milk was up $.67, at 18.23.