Beef Market Optimism Continues

This is Matt Rice with today’s Market Line Report for Thursday. Optimism in the Beef Market continues as demand remains constant. Let’s go to Virginia McGathey with CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day up 27 ½, to finish at 7-96 ½. March Corn was up 11, to close at 6-10 ½. Kansas City Hard Red Winter Wheat prices for March were up 27 ¼, to settle at 8-00.

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 ¼, ranging from 9-75 to 10-00. DNS wheat with 14 % protein, prices for March were up 32 ¾, ranging from 10-48 ¾ to 10-59 ¾.

Live Cattle for April were up $1.50, closing at 143.35. March Feeder cattle were up $.20, to finish the day at 165.62 ½. Feb. Class III milk was dn $.31 to settle at 21.31.