LE Cattle Rally
This is Matt Rice with the Ag Information Network and today’s Market Line Report for Tuesday. Live Cattle surged to new contract highs, taking advantage of a lulling corn market. 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 2 ½, to finish at 7-52 ½. March Corn was Up ¾, to finish the day at 6-83 ¾. Kansas City Hard Red Winter Wheat prices for March were Up 4 ½, to settle at 8-73 ¾.
Portland prices for Club Wheat with 10 ½ % Protein was Up 20 - Unch, ranging from 8-45 to 9-00. Soft white wheat with 10 ½ % Protein prices for Feb. were Up 22 – 09, ranging 8-45 to 8-63. Hard Red Winter Wheat with 11 ½ percent Protein prices for March were Up 4 ½, ranging from 9-93 ¾ to 10-03 ¾. DNS wheat with 14 % protein, prices for March were Unch, settling at 10-01 ½.
Live Cattle for April were Up $2.52 ½, closing at 163.35. March Feeder Cattle were Up $.45 to finish the day at 183.47 ½. March Class III milk was Dn $.20 to settle at 17.81.