Cattle Search For Groove

This is Matt Rice with today’s Market Line Report for Tuesday. Cattle try to find their groove with the recent bearish On Feed Report and a rallying Corn 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 10 ¾, to finish at 8-04. March Corn was up 9, to close at 6-14 ½. Kansas City Hard Red Winter Wheat prices for March were dn 14 ½, to settle at 8-47.

Portland prices for Club Wheat with 10 ½ % Protein was Unch, ranging from 10-50 to 13-75. Soft white wheat with 10 ½ % Protein for Feb. was dn Unch, ranging from 10-50 to 11-25. Hard Red Winter Wheat with 11 ½ percent Protein for Feb. were dn 4 ½ to 14 ½, ranging from 10-22 to 10-42. DNS wheat with 14 % protein, prices for Feb. were dn 8, ranging from 11-24 ½ to 11-44 ½.

Live Cattle for Feb. were dn $.35, closing at 139.27 ½. March Feeder cattle were dn $.47 ½, to finish the day at 163.27 ½. Feb. Class III milk was up $.25, to settle at 20.20.