Consumer Fears Affecting Cattle Markets

This is Matt Rice with today’s Market Line Report for Wednesday. Fears of supply chain shortages has consumers on edge, which caused a slight pullback in yesterday’s cattle market. Let’s go to Terry Roggensack with CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day up 27 ½, to finish at 7-69. March Corn was up 3 ¼, to close at 5-99 ½. Kansas City Hard Red Winter Wheat prices for March were up 27, to settle at 7-75 ¼.

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 27 ¾, ranging from 9-47 ¾ to 9-72 ¾. DNS wheat with 14 % protein, prices for March were up 28 ¾, ranging from 10-16 to 10-27.

Live Cattle for Feb. were dn $.30, closing at 137.67 ½. March Feeder cattle were dn $.95, to finish the day at 165.42 ½. Feb. Class III milk was dn $.46 to settle at 21.62.