Beef Demand Picks Up

This is Matt Rice with today’s Market Line Report for Tuesday. Beef demand surges, as the market finds its pace picking up most of last week’s losses. Let’s go to Virginia McGathey with the CME Group to find out more.

Chicago Soft Red Winter Wheat prices for May closed the day dn 10 ¼, to finish at 10-96 ¼. May Corn was dn 14 ¼, to finish the day at 7-48 ¼. Kansas City Hard Red Winter Wheat prices for May were up 10 ¾, to settle at 11-00.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 11-80 to 13-30. Soft white wheat with 10 ½ % Protein prices for May were up 46 to UNCH, ranging from 11-75 to 11-84. Hard Red Winter Wheat with 11 ½ percent Protein prices for June were up 4 ½, ranging from 11-85 ½ to 11-95 ½. DNS wheat with 14 % protein, prices for June were up 3 ¾, ranging from 11-07 to 11-37.

Live Cattle for June were up $2.75, closing at 135.70. April Feeder Cattle were up $4.42 ½ to finish the day at 162.40. April Class III milk was up $.08 to settle at 23.90.