Underlying Support Remains Constant

This is Matt Rice with today’s Market Line Report for Thursday. Underlying support remains constant in the cattle market, with a slight pull back but not enough to scare traders. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for May closed the day up 13, to finish at 10-27 ¼. May Corn was up 11 ¾, to finish the day at 7-38. Kansas City Hard Red Winter Wheat prices for May were up 20, to settle at 10-44 ½.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 10-25 to 12-25. Soft white wheat with 10 ½ % Protein prices for June were Unch to up 21, ranging from 10-25 to 11-00. Hard Red Winter Wheat with 11 ½ percent Protein prices for June were up 20 ½ to 40 ½, ranging from 11-44 ¾ to 11-64 ¾. DNS wheat with 14 % protein, prices for June were up 14 ¼ to 54 ¼, ranging from 11-37 ¼ to 11-77 ¼.

Live Cattle for June were dn $.47 ½, closing at 138.00. May Feeder Cattle were dn $.50 to finish the day at 168.90. May Class III milk was up $.40 to settle at 23.90.