Tighter Supplies Spark Buying

This is Matt Rice with today’s Market Line Report for Monday. Cattle finished the week strong, as tighter supplies sparked more buying. Let’s go Terry Roggensack with CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day dn 5 ¼, to finish at 7-41 ½. March Corn was up 8 ¾, to close at 5-96 ¼. Kansas City Hard Red Winter Wheat prices for March were dn 14 ¾, to settle at 7-45.

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 14 ¾, ranging from 9-20 to 9-45. DNS wheat with 14 % protein, prices for March were dn 17 ¼, ranging from 9-87 ¼ to 9-98 ¼.

Live Cattle for Feb. were up $.97 ½, closing at 137.97 ½. March Feeder cattle were dn $.35, to finish the day at 166.37 ½. Feb. Class III milk was dn $.12 to settle at 22.08.