Outside Markets Play Role In Beef Market

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Monday. Analysts fear a poor economy paired with the recent banking crisis may slow consumers beef consumption. 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 26 ½, to finish at 6-88 ½. May Corn was Up 11 ¼, to finish the day at 6-43. Kansas City Hard Red Winter Wheat prices for May were Up 28 ¼, to settle at 8-48.

Portland prices for Club Wheat with 10 ½ % Protein was Unch – Up 05, ranging from 7-55 to 8-10. Soft white wheat with 10 ½ % Protein prices for May were Unch, ranging from 7-55 to 7-60. Hard Red Winter Wheat with 11 ½ percent Protein prices for May were Up 28 ¼, ranging from 9-88 to 10-13. DNS wheat with 14 % protein, prices for May were Up 16 ¼, ranging from 9-42 ½ to 9-47 ½.

Live Cattle for June were Up $.80, closing at 156.60. May Feeder Cattle were Dn $1.05, to finish the day at 197.55. April Class III milk was Up $.17, to settle at 19.93.