Corn Prices Put Cap On Cattle

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. Feedlots holding out for higher cash cattle prices, but stronger corn prices are putting a cap on the market. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day Dn 9 ¼, to finish at 7-42 ½. March Corn was Dn 4, to finish the day at 6-81 ¼. Kansas City Hard Red Winter Wheat prices for March were Dn 14 ¼, to settle at 8-41 ¼.

Portland prices for Club Wheat with 10 ½ % Protein was Unch, ranging from 8-25 to 8-80. Soft white wheat with 10 ½ % Protein prices for March were Unch, ranging 8-23 to 8-35. Hard Red Winter Wheat with 11 ½ percent Protein prices for March were Dn ¼, to settle at 9-61 ½. DNS wheat with 14 % protein, prices for March were Dn 5 ½, to settle at 9-81.

Live Cattle for April were Up $.12 ½, closing at 160.22 ½. March Feeder Cattle were Up $.42 ½ to finish the day at 181.72 ½. Feb. Class III milk was Dn $.10, to settle at 18.44.