Box Beef Prices Rally

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Tuesday. Cattle continue to hold strong, with box beef prices sharply higher. Let’s go to Oliver Sloup with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day Up 20 ½, to finish at 7-54 ¾. March Corn was Up 10, to finish the day at 6-54. Kansas City Hard Red Winter Wheat prices for March were Up 29 ¼, to settle at 8-62 ¼.

Portland prices for Club Wheat with 10 ½ % Protein were UNCH, ranging from 8-55 to 9-30. Soft White Wheat with 10 ½ % Protein prices for Jan. were UNCH, ranging from 8-50 to 8-85. Hard Red Winter Wheat with 11 ½ percent Protein prices for Jan. were Up 29 ¼, ranging from 9-82 ¼ to 10-02 ¼. DNS wheat with 14 % protein, prices for Jan. were Up 14 ¾, ranging from 9-96 ¼ to 10-16 ¼.

Live Cattle for Feb. were Up $.55, closing at 156.10. Jan. Feeder Cattle were Dn $.27 ½, to finish the day at 183.65. Jan. Class III milk was DN $.20, to settle at 19.04.