Q2 Beef Production Outlook

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. The Q2 Beef production outlook looks slim, uncharacteristic for this time of year. Let’s go to Terry Roggensack with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for May closed the day Up 11 ¾, to finish at 6-96 ¼. May Corn was Up 7 ¼, to finish the day at 6-20 ¾. Kansas City Hard Red Winter Wheat prices for May were Up 17 ¼, to settle at 8-17 ¾.

Portland prices for Club Wheat with 10 ½ % Protein was Unch, ranging from 7-60 to 8-30. 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 17 ¼, ranging from 9-57 ¾ to 9-82 ¾. DNS wheat with 14 % protein, prices for May were Up 17 ½, ranging from 9-35 to 9-40.

Live Cattle for June were Dn $.45, closing at 157.75. May Feeder Cattle were dn $1.10, to finish the day at 201.30. March Class III milk was Up $.17, to settle at 17.95.