BBQ Season Kicks Beef Market Into Gear

This is Matt Rice with today’s Market Line Report for Tuesday. Grilling season kicks the beef market into gear, as cattle start the week off with a solid rally. 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 7 to finish at 618. May Corn was dn 6 ½, to close at 553 ¼. Kansas City Hard Red Winter Wheat prices for May were dn 2, to settle at 563.

Portland prices for Ordinary Club Wheat were Unch, ranging from 7-55 to 8-05. 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 dn 2, ranging from 6-83 to 6-88. DNS wheat with 14 % protein, prices for June were up 7 ¾, ranging from 7-26 ¾ to 7-41 ¾.

Live Cattle for June were up $1.87 ½, closing at 124.42 ½. May Feeder cattle were up $2.55, to finish the day at 151.77 ½. May Class III milk was up $.12, at 18.57.