Will Beef Demand Pick Up?

Will Beef Demand Pick Up?

Matt Rice
Matt Rice
This is Matt Rice with today’s Market Line Report for Monday. Cattle held steady to finish the week, while demand in the beef market is expected to pick up in the coming months. Let’s go to Virginia McGathey with CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day up 12 ½, to finish at 7-58 ½. March Corn was up 3, to close at 6-06 ¾. Kansas City Hard Red Winter Wheat prices for March were up 6 ½, to settle at 7-75.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 10-20 to 13-75. Soft white wheat with 10 ½ % Protein prices for March were Unch, ranging from 10-20 to 11-25. Hard Red Winter Wheat with 11 ½ percent Protein prices for March were up 6 ½, ranging from 9-50 to 9-75. DNS wheat with 14 % protein, prices for March were dn ½, ranging from 10-32 ¼ to 10-43 ¼.

Live Cattle for Feb. were up $.10, closing at 137.35. March Feeder cattle were up $1.10, to finish the day at 167.27. Feb. Class III milk was dn $.68 to settle at 21.67.

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