Slowing Rate Hikes Could Increase Consumer Demand

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Monday. Fed Chair indicates slowing pace of rate hikes, but how will this effect the cattle Market? Let’s go to Oliver Sloup with the CME Group to find out.

Chicago Soft Red Winter Wheat prices for March closed the day Dn 22, to finish at 7-61. March Corn was Dn 14 ¼, to finish the day at 6-46 ¼. Kansas City Hard Red Winter Wheat prices for March were Dn 19 ½, to settle at 8-70 ¾.

Portland prices for Club Wheat with 10 ½ % Protein were DN 15 - UNCH, ranging from 8-65 to 9-30. Soft White Wheat with 10 ½ % Protein prices for Jan. were DN 05 - UNCH, ranging from 8-60 to 8-85. Hard Red Winter Wheat with 11 ½ percent Protein prices for Jan. were Dn 19 ½, ranging from 9-90 ¾ to 10-10 ¾. DNS wheat with 14 % protein, prices for Jan. were DN 16 ¾ to 36 ¾, ranging from 10-01 ¼ to 10-21 ¼.

Live Cattle for Feb. were UP $.45, closing at 155.87 ½. Jan. Feeder Cattle were UP $.97 ½, to finish the day at 185.27 ½. Jan. Class III milk was Dn $.03, to settle at 20.00.