Beef Imports On The Rise

This is Matt Rice with today’s Market Line Report for Tuesday. Domestic beef demand continues to rise after China bans imports from Brazil. Let’s go to Ted Seifried with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day up 22 ¾, to finish at 8-57 ½. Dec. Corn was up 6, to close at 5-76 ¾. Kansas City Hard Red Winter Wheat prices for March were up 28, to settle at 8-66 ½.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 10-90 to 14-00. Soft white wheat with 10 ½ % Protein prices for Jan. were Unch, ranging from 10-77 to 11-50. Hard Red Winter Wheat with 11 ½ percent Protein prices for Jan. were up 28, ranging from 10-26 ½ to 10-61 ½. DNS wheat with 14 % protein, prices for Feb. were up 17 ¼, ranging from 11-31 ¾ to 11-46 ¾.

Live Cattle for Feb. were up $1.27 ½, closing at 138.97 ½. Jan. Feeder cattle were up $.77 ½, to finish the day at 161.70. Jan. Class III milk was dn $.15 to settle at 18.42.