Cattle Market Strength Continues

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Tuesday. The Cattle Market continues to surge following a bullish “Cattle On Feed Redport” and weaker feed prices. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Dec. closed the day Dn 3 ¾, to finish at 8-18 ¼. March Corn was Dn 6 ½, to finish the day at 6-63 ½. Kansas City Hard Red Winter Wheat prices for Mar. were Dn 1, to settle at 9-22 ¾.

Portland prices for Club Wheat with 10 ½ % Protein were Up 15 - UNCH, ranging from 8-85 to 9-90. Soft White Wheat with 10 ½ % Protein prices for Jan. were Up 7 to UNCH, ranging from 8-80 to 9-25. Hard Red Winter Wheat with 11 ½ percent Protein prices for Jan. were Dn 1, ranging from 10-42 ¾ to 10-62 ¾. DNS wheat with 14 % protein, prices for Jan. were Dn 5, ranging from 10-33 ¾ to 10-53 ¾.

Live Cattle for Feb. were Up $.87 ½, closing at 156.72 ½. Jan. Feeder Cattle were Up $1.85, to finish the day at 182.62 ½. Jan. Class III milk was Dn $.17, to settle at 20.53.