Bearish On Feed Report
This is Matt Rice with today’s Market Line Report for Tuesday. A weaker grain market left Feeder Cattle prices mixed Monday, while Live Cattle saw more red following the recent bearish USDA Report. Let’s go to Virginia McGathey with the CME Group to hear more.
Chicago Soft Red Winter Wheat prices for May closed the day dn 45 ¼, to finish at 10-57. May Corn was dn 5 ½, to finish the day at 7-48 ½. Kansas City Hard Red Winter Wheat prices for May were dn 40 ¼, to settle at 10-70 ½.
Portland prices for Club Wheat with 10 ½ % Protein were dn 80 to 50, ranging from 11-00 to 12-80. Soft white wheat with 10 ½ % Protein prices for June was dn 45 to Unch, ranging from 11-00 to 11-80. Hard Red Winter Wheat with 11 ½ percent Protein prices for June were dn 37 ½ - 47 ½, to settle at 11-69 ½. DNS wheat with 14 % protein, prices for June were dn 24, ranging from 11-28 ¼ to 11-58 ¼.
Live Cattle for June were dn $.60, closing at 136.77 ½. May Feeder Cattle were dn $.25 to finish the day at 165.07 ½. May Class III milk was dn $.85 to settle at 24.16.
