Tighter Cattle Supply Creates Demand

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Tuesday. Feeder Cattle hit new highs with tight supplies building more demand . Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for May closed the day Dn 11 ¾, to finish at 7-10. May Corn was Dn 5 ¾, to finish the day at 6-43 ½. Kansas City Hard Red Winter Wheat prices for May were Dn 18 ¼, to settle at 8-17.

Portland prices for Club Wheat with 10 ½ % Protein was Unch – Dn 15, ranging from 8-45 to 8-80. Soft white wheat with 10 ½ % Protein prices for April were Dn 16 - Unch, ranging 8-14 to 8-70. Hard Red Winter Wheat with 11 ½ percent Protein prices for May were Dn 18 ¼, settling at 9-57. DNS wheat with 14 % protein, prices for April were Dn 14, ranging from 9-53 ½ to 9-63 ½.

Live Cattle for April were Dn $.40, closing at 164.97 ½. April Feeder Cattle were Up $.65 to finish the day at 194.22 ½. March Class III milk was Up $.14, to settle at 17.86.