Cattle Give Back Previous Gains

This is Matt Rice with today’s Market Line Report for Thursday. Profits in the beef market give back previous gains, as Feeder Cattle follow Live Cattle trends. Let’s go Virginia McGathey with CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day dn 12 ½, to finish at 7-57 ¾. March Corn was dn 2, to close at 5-99. Kansas City Hard Red Winter Wheat prices for March were dn 13 ¾, to settle at 7-78.

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 dn 13 ¾, ranging from 9-53 to 9-78. DNS wheat with 14 % protein, prices for March were dn 7 ¾, ranging from 10-29 ½ to 10-40 ½.

Live Cattle for Feb. were dn $1.10, closing at 136.57 ½. March Feeder cattle were dn $1.32 ½, to finish the day at 165.02 ½. Feb. Class III milk was up $.43 to settle at 23.63.