Recession Fears Play Into Markets

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Friday. The beef market see’s some pullback, as consumers continue to fear recession. Let’s go to Oliver Sloup with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for May closed the day Up 13 ½, to finish at 6-79 ¼. May Corn was Up 5 ¾, to finish the day at 6-17 ¼. Kansas City Hard Red Winter Wheat prices for May were Up 21, to settle at 7-98 ¼.

Portland prices for Club Wheat with 10 ½ % Protein was Unch, ranging from 7-60 to 8-15. Soft white wheat with 10 ½ % Protein prices for May were Unch, ranging from 7-60 to 7-90. Hard Red Winter Wheat with 11 ½ percent Protein prices for May were Up 21, ranging from 9-38 ¼ to 9-63 ¼. DNS wheat with 14 % protein, prices for May were Up 07, ranging from 9-09 ½ to 9-14 ½.

Live Cattle for June were Dn $1.02 ½, closing at 158.65. April Feeder Cattle were Dn $1.50, to finish the day at 197.65. April Class III milk was Dn $.05, to settle at 17.70.