Cattle Market See's Pressure

This is Matt Rice with today’s Market Line Report for Thursday. Feeder Cattle traded weaker yesterday, testing new recent lows putting more pressure on the beef 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 dn 14, to finish at 7-94 ½. March Corn was up 1 ¼, to close at 5-87 ¼. Kansas City Hard Red Winter Wheat prices for March were dn 15 ½, to settle at 8-12.

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 15 ½, ranging from 9-77 to 10-07. DNS wheat with 14 % protein, prices for Jan. were dn 1 ¼, ranging from 11-35 ¼ to 11-50 ¼.

Live Cattle for Feb. were dn $.55, closing at 138.67 ½. Jan. Feeder cattle were dn $1.62 ½, to finish the day at 163.40. Jan. Class III milk was up $.24 to settle at 19.78.