Cattle Sharply Lower

This is Matt Rice with today’s Market Line Report for Monday. Cattle finish the week sharply lower, while grains continue to skyrocket. Let’s go to Virginia McGathey with the CME Group to find out.

Chicago Soft Red Winter Wheat prices for May closed the day up 75, to finish at 12-09. May Corn was up 6 ½, to finish the day at 7-54 ¼. Kansas City Hard Red Winter Wheat prices for May were up 64 ¼, to settle at 12-14 ½.

Portland prices for Club Wheat with 10 ½ % Protein were up 30-Unch, ranging from 11-80 to 13-50. Soft white wheat with 10 ½ % Protein prices for April were UNCH – up 30, ranging from 11-00 to 11-82. Hard Red Winter Wheat with 11 ½ percent Protein prices for April were up 41 ½ to 64 ¼, ranging from 13-14 ½ to 14-64 ½. DNS wheat with 14 % protein, prices for April were up 28 ¾, ranging from 12-47 to 13-02.

Live Cattle for April were dn $2.57 ½, closing at 138.35. April Feeder Cattle were dn $3.27 ½ to finish the day at 157.25. April Class III milk was up $.24 to settle at 23.68.