Market Correction

This is Matt Rice with today’s Market Line Report for Tuesday. Cattle settle on the lower end yesterday after a bit of market correction but overall, still in good shape. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for May closed the day dn 10 ¾ to finish at 628. May Corn was dn 8 ¼, to close at 569. Kansas City Hard Red Winter Wheat prices for May were dn 7 ½, to settle at 579.

Portland prices for Ordinary Club Wheat were Unch, ranging from 6-70 to 7-05. Soft white wheat of Ordinary Protein for May was Unch, ranging from 6-70 to 6-80. Hard Red Winter Wheat with 11 ½ percent Protein, for May were dn 7 ½, ranging from 6-89 to 6-99. DNS wheat with 14 % protein, prices for June were dn 11, ranging from 7-60 ¼ to 7-70 ¼.

Live Cattle for June were dn $.47 ½, closing at 122.10. May Feeder cattle were up $.07 ½, to finish the day at 149.70. May Class III milk was up $.58, to settle at 19.96.