Beef Market Hits Wall
This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. The Beef Market hits a wall, as prices see 5th consecutive day in the red . Let’s go to Virginia McGathey with the CME Group to hear more.Chicago Soft Red Winter Wheat prices for May closed the day Up 6 ½, to finish at 7-02 ¾. May Corn was Up 5 ¾, to finish the day at 6-26 ½. Kansas City Hard Red Winter Wheat prices for May were Up 2, to settle at 8-19 ¾.
Portland prices for Club Wheat with 10 ½ % Protein was Up 25 – 20, ranging from 7-85 to 8-50. Soft white wheat with 10 ½ % Protein prices for May were Unch – Up 10, ranging from 7-60 to 8-00. Hard Red Winter Wheat with 11 ½ percent Protein prices for May were Up 2, ranging from 9-59 ¾ to 9-84 ¾. DNS wheat with 14 % protein, prices for May were Up 2 ½, ranging from 9-37 ½ to 9-42 ½.
Live Cattle for June were Dn $1.17 ½, closing at 156.57 ½. April Feeder Cattle were Dn $2.50, to finish the day at 198.80. April Class III milk was Up $.07, to settle at 18.60.