USDA On Feed Report

This is Matt Rice with today’s Market Line Report for Friday. The beef market saw a nice rally yesterday after USDA On Feed Report was released. 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 ¾, to finish at 8-14 ¾. March Corn was up 3 ¼, to close at 6-05 ¾. Kansas City Hard Red Winter Wheat prices for March were up 7 ¾, to settle at 8-61 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 up 7 ¾, ranging from 10-26 ½ to 10-56 ½. DNS wheat with 14 % protein, prices for Feb. were up 4 ¾, ranging from 11-32 ½ to 11-52 ½.

Live Cattle for Feb. were up $2.25, closing at 139.62 ½. March Feeder cattle were up $1.82 ½, to finish the day at 163.75. Jan. Class III milk was up $.05 to settle at 19.49.