Cattle Trending Up

This is Matt Rice with today’s Market Line Report for Wednesday. Cattle rebounded to kick off the week, taking advantage of some weaker feed prices. Here’s Virginia McGathey with the CME Group to share more on the beef market.

Chicago Soft Red Winter Wheat prices for March closed the day up 2 ½, to finish at 8-06 ¼. March Corn was dn ½, to close at 5-83 ½. Kansas City Hard Red Winter Wheat prices for March were dn 1 ¾, to settle at 8-22 ½.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 10-65 to 14-00. Soft white wheat with 10 ½ % Protein prices for Jan. were Unch, ranging from 10-65 to 11-50. Hard Red Winter Wheat with 11 ½ percent Protein prices for Jan. were dn 1 ¾, ranging from 9-87 ½ to 10-17 ½. DNS wheat with 14 % protein, prices for Jan. were up 7, ranging from 11-27 ¾ to 11-42 ¾.

Live Cattle for Feb. were up $.70, closing at 139.65. Jan. Feeder cattle were up $1.12 ½, to finish the day at 165.25. Jan. Class III milk was up $.41 to settle at 19.18.