Cattle Bounce Back

This is Matt Rice with today’s Market Line Report for Thursday. Cattle jump back on track as prices rebound despite bearish factors within the market. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day up 3 ¼, to finish at 7-90 ½. March Corn was up 4, to close at 5-71 ½. Kansas City Hard Red Winter Wheat prices for March were dn 3, to settle at 8-19 ¼.

Portland prices for Club Wheat with 10 ½ % Protein was dn 25 - Unch, ranging from 10-65 to 14-00. Soft white wheat with 10 ½ % Protein for Jan. was dn 27 -Unch, ranging from 10-50 to 11-50. Hard Red Winter Wheat with 11 ½ percent Protein for Jan. were dn 03, ranging from 9-84 ¼ to 10-14 ¼. DNS wheat with 14 % protein, prices for Jan. were up 9 ¾, ranging from 11-19 ¾ to 11-34 ¾.

Live Cattle for Feb. were up $.70, closing at 138.60. March Feeder cattle were up $1.40, to finish the day at 167.90. Jan. Class III milk was dn $.11, to settle at 18.10.