Cash Market Supports Beef Trade

This is Matt Rice with today’s Market Line Report for Thursday. Live Cattle finished yesterday steady on strong cash market, while Feeders Firmed up giving the market a much needed boost. 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 12 ½, to finish at 11-05 ¾. May Corn was up 4 ¾, to finish the day at 7-57 ¾. Kansas City Hard Red Winter Wheat prices for May were dn 5, to settle at 11-11 ½.

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 June was Unch, ranging from 11-50 to 11-80. Hard Red Winter Wheat with 11 ½ percent Protein prices for June were dn 4 ¼, ranging from 12-05 ½ to 12-15 ½. DNS wheat with 14 % protein, prices for June were dn 5 ¾, ranging from 11-34 ¾ to 11-64 ¾.

Live Cattle for June were up $.27 ½, closing at 135.97 ½. May Feeder Cattle were up $.37 ½ to finish the day at 165.80. May Class III milk was up $.06 to settle at 25.09.