Cattle Rally In Full Force

This is Matt Rice with today’s Market Line Report for Thursday. Live Cattle markets continue to hit new highs, while Feeders see over $4 ½ dollar runs in last two days. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day up 6 ¼, to finish at 7-85. March Corn was up 14 ½, to finish the day at 6-46 ¾. Kansas City Hard Red Winter Wheat prices for March were up 13 ¾, to settle at 8-15.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 10-50 to 13-50. Soft white wheat with 10 ½ % Protein prices for March were Unch, ranging from 10-50 to 11-00. Hard Red Winter Wheat with 11 ½ percent Protein prices for March were up 13 ¾, ranging from 10-15 to 10-65. DNS wheat with 14 % protein, prices for March were up 13 ¼, ranging from 10-63 ¾ to 10-03 ¾.

Live Cattle for April were up $1.65, closing at 147.82 ½. March Feeder Cattle were up $1.40 to finish the day at 168.27 ½. March Class III milk was up $.36 to settle at 22.04.