Corn Market Pressures Beef

Corn Market Pressures Beef

Matt Rice
Matt Rice
This is Matt Rice with the Ag Information Network and today’s Market Line Report for Tuesday. Higher Corn prices put a bit of pressure on the cattle market, but overall beef really holding very strong. 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 2 ¼, to finish at 7-06 ¾. May Corn was Dn 2 ¾, to finish the day at 6-57 ¾. Kansas City Hard Red Winter Wheat prices for May were Dn 2 ½, to settle at 8-75 ¼.

Portland prices for Club Wheat with 10 ½ % Protein was Dn 05 to Up10, ranging from 7-65 to 8-15. Soft white wheat with 10 ½ % Protein prices for May were Dn 05 - 09, ranging 7-50 to 7-65. Hard Red Winter Wheat with 11 ½ percent Protein prices for May were Dn 2 ½, ranging from 10-01 ¼ to 10-40 ¼. DNS wheat with 14 % protein, prices for April were Dn 4 - 9, settling at 9-76 ¾.

Live Cattle for June was Dn $.90, closing at 161.22 ½. May Feeder Cattle were Dn $2.10, to finish the day at 203.15. April Class III milk was Dn $.31, to settle at 18.79.

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