Cattle Pick Up Momentum

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. The Beef Market finds support after stronger slaughter numbers 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 Up 14, to finish at 7-95 ½. March Corn was Dn 2 ½, to finish the day at 6-67. Kansas City Hard Red Winter Wheat prices for Mar. were Up 12 ¾, to settle at 8-99 ¾.

Portland prices for Club Wheat with 10 ½ % Protein were UNCH, ranging from 8-85 to 9-60. Soft White Wheat with 10 ½ % Protein prices for Jan. were UNCH, ranging from 8-79 to 9-18. Hard Red Winter Wheat with 11 ½ percent Protein prices for Jan. were Up 12 ¾, ranging from 10-19 ¾ to 10-39 ¾. DNS wheat with 14 % protein, prices for Jan. were Up 8 ½, ranging from 10-23 to 10-63.

Live Cattle for Feb. were Up $.87 ½, closing at 155.67 ½. Jan. Feeder Cattle were Up $2.47 ½, to finish the day at 180.47 ½. Jan. Class III milk was Dn $.19, to settle at 19.42.