Feeder Cattle Fall

This is Matt Rice with today’s Market Line Report for Thursday. Feeder Cattle trended lower yesterday, breaking through support levels causing some concern for traders. 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 31, to finish at 7-56. March Corn was dn 4 ½, to close at 5-85 ¾. Kansas City Hard Red Winter Wheat prices for March were dn 26 ¼, to settle at 7-85 ½.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 10-50 to 13-75. Soft white wheat with 10 ½ % Protein prices for Feb. were Unch, ranging from 10-50 to 11-25. Hard Red Winter Wheat with 11 ½ percent Protein prices for Feb. were dn 26 ¼, ranging from 9-50 ½ to 9-80 ½. DNS wheat with 14 % protein, prices for Feb. were dn 11 ¾, ranging from 11-09 ¼ to 11-29 ¼.

Live Cattle for Feb. were dn $1.72 ½, closing at 136.57 ½. March Feeder cattle were dn $1.92 ½, to finish the day at 164.47 ½. Jan. Class III milk was dn $.18 to settle at 19.80.