Beef Momentum Picks Up

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Tuesday. Cattle continue to build momentum as prices trend higher at the beginning of the week. 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 6 ½, to finish at 7-50 ¼. March Corn was Up 1 ½, to finish the day at 6-79. Kansas City Hard Red Winter Wheat prices for March were Up 03, to settle at 8-76.

Portland prices for Club Wheat with 10 ½ % Protein was Unch, ranging from 8-50 to 9-00. Soft white wheat with 10 ½ % Protein prices for March were Unch, ranging 8-40 to 8-58. Hard Red Winter Wheat with 11 ½ percent Protein prices for March were Up 03, ranging from 9-96 to 10-06. DNS wheat with 14 % protein, prices for March were Dn 04, to settle at 9-97 ½.

Live Cattle for April were Up $.35, closing at 164.47 ½. March Feeder Cattle were Up $1.60 to finish the day at 187.70. March Class III milk was Dn $.27, to settle at 17.46.