Cattle Bounce Back

This is Matt Rice with today’s Market Line Report for Tuesday. Cattle rebound with more support from traders, however concerns of inflation still lingering. 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 ½, to finish at 7-85 ½. March Corn was dn 5, to close at 5-85. Kansas City Hard Red Winter Wheat prices for March were up 7, to settle at 8-12 ½.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 10-80 to 14-00. Soft white wheat with 10 ½ % Protein prices for Feb. were Unch, ranging from 10-80 to 11-50. Hard Red Winter Wheat with 11 ½ percent Protein prices for Jan. were up 7, ranging from 9-77 ½ to 10-07 ½. DNS wheat with 14 % protein, prices for Feb. were dn 3 ½, ranging from 11-18 ¼ to 11-38 ¼.

Live Cattle for Feb. were up $.77 ½, closing at 138.85. March Feeder cattle were up $1.17 ½, to finish the day at 166.47 ½. Jan. Class III milk was up $.24 to settle at 20.06.