Cattle Picking Up The Pace

This is Matt Rice with today’s Market Line Report for Tuesday. Feeder Cattle rallied to kick off the week, erasing last week’s dips after a very bullish Cattle Inventory Report. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day dn 25, to finish at 7-61 ¼. March Corn was dn 10, to finish the day at 6-26. Kansas City Hard Red Winter Wheat prices for March were dn 21, to settle at 7-81 ¼.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 10-20 to 14-00. Soft white wheat with 10 ½ % Protein prices for March were Unch, ranging from 10-20 to 11-50. Hard Red Winter Wheat with 11 ½ percent Protein prices for March were dn 21, ranging from 9-56 ¼ to 9-81 ¼. DNS wheat with 14 % protein, prices for March were dn 13 ¾, ranging from 10-15 ½ to 10-26 ½.

Live Cattle for April were up $1.42 ½, closing at 144.52 ½. March Feeder Cattle were up $3.40 to finish the day at 163.02 ½. March Class III milk was up $.43 to settle at 21.81.