Weaker Feed Propels Beef Market

Weaker Feed Propels Beef Market

Matt Rice
Matt Rice
This is Matt Rice with the Ag Information Network and today’s Market Line Report for Tuesday. Weaker feed prices gave the beef market some momentum along with more demand from packers. Let’s go to Virginia McGathey with the CME Group to find out.

Chicago Soft Red Winter Wheat prices for March closed the day Dn 22, to finish at 7-39. March Corn was Dn 5 ¾, to finish the day at 6-40 ½. Kansas City Hard Red Winter Wheat prices for March were Dn 29, to settle at 8-41 ¾.

Portland prices for Club Wheat with 10 ½ % Protein were UNCH, ranging from 8-65 to 9-30. Soft White Wheat with 10 ½ % Protein prices for Jan. were UNCH, ranging from 8-60 to 8-85. Hard Red Winter Wheat with 11 ½ percent Protein prices for Jan. were Dn 29, ranging from 9-61 ¾ to 9-81 ¾. DNS wheat with 14 % protein, prices for Jan. were DN 19 ¼, ranging from 9-82 to 10-02.

Live Cattle for Feb. were Dn $.05, closing at 155.82 ½. Jan. Feeder Cattle were UP $1.32 ½, to finish the day at 183.77 ½. Jan. Class III milk was Dn $.01, to settle at 19.99.

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