Feeder Cattle Drop $7 Over 7 Days

This is Matt Rice with today’s Market Line Report for Tuesday. Feeder Cattle take another blow, seeing a $7 drop in just 1 week as packers finish out orders for the year. Let’s go to Greg Sanders with the USDA to hear more on the Weekly Cattle Update.

Chicago Soft Red Winter Wheat prices for March closed the day up 2 ¾, to finish at 7-77 ¾. March Corn was dn 2 ¼, to close at 5-91. Kansas City Hard Red Winter Wheat prices for March were up 3 ¼, to settle at 8-13 ¼.

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 up 3 ¼, ranging from 9-78 ¼ to 10-08 ¼. DNS wheat with 14 % protein, prices for Feb. were dn 2 ¾, ranging from 11-19 ¾ to 11-39 ¾.

Live Cattle for Feb. were dn $.45, closing at 135.97 ½. March Feeder cattle were dn $1.20, to finish the day at 160.50. Jan. Class III milk was dn $.15 to settle at 19.10.