Beef Production Hit's 3 Year Low

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. Beef production hitting new 3 year lows, which in the long run may support demand. Let’s go to Terry Roggensack with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day Up 14 ½, to finish at 7-34 ½. March Corn was Up 10 ¾, to finish the day at 6-77. Kansas City Hard Red Winter Wheat prices for March were Up 14 ¾, to settle at 8-33 ¾.

Portland prices for Club Wheat with 10 ½ % Protein was Unch, ranging from 8-35 to 8-90. Soft white wheat with 10 ½ % Protein prices for Feb. were Unch, ranging 8-23 to 8-48. Hard Red Winter Wheat with 11 ½ percent Protein prices for March were Up 14 ¾, ranging from 9-53 ¾ to 9-63 ¾. DNS wheat with 14 % protein, prices for March were Unch, settling at 9-83.

Live Cattle for April were Up $.75, closing at 161.30. March Feeder Cattle were Up $.32 ½ to finish the day at 183.60. March Class III milk was Dn $.07 to settle at 18.21.