Outside Market Pressure Continues

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. Once again negative pressure from outside markets play into the Beef commodities. Let’s go to Ted Siefried with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day UP 8, to finish at 7-57 ¼. March Corn was UP 3, to finish the day at 6-53 ½. Kansas City Hard Red Winter Wheat prices for March were Up 10 ¼, to settle at 8-60 ½.

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 Feb. were Dn 4 - UNCH, ranging from 8-54 to 8-85. Hard Red Winter Wheat with 11 ½ percent Protein prices for Feb. were Up 10 ¼, ranging from 9-80 ½ to 10-00 ½. DNS wheat with 14 % protein, prices for Feb. were Up 1 ½, ranging from 9-98 ¾ to 10-18 ¾.

Live Cattle for Feb. were Dn $.85, closing at 154.85. Jan. Feeder Cattle were Dn $.55, to finish the day at 183.05. Jan. Class III milk was Up $.12, to settle at 19.64.