Oversold Cattle Market

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Tuesday. An oversold Cattle Market finally catching up to traders. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for Dec. closed the day Up 3 ¾, to finish at 5-79. Dec. Corn was Up 13 ¼, to finish the day at 4-77 ¼. Kansas City Hard Red Winter Wheat prices for March were Up 1 ¼, to settle at 6-52.

Portland prices for Club Wheat with 10 ½ % Protein was Unch – Dn 5, ranging from 7-00 to 7-35. Soft white wheat with 10 ½ % Protein prices for Jan. were Unch, ranging 6-90 to 7-25. Hard Red Winter Wheat with 11 ½ percent Protein prices for Jan. were Up 1 ¼, ranging from 6-92 to 7-07. DNS wheat with 14 % protein, prices for Jan. were Dn 1 ½, ranging from 8-14 to 8-24.

Live Cattle for Feb. were Up $.60, closing at 175.25. Jan. Feeder Cattle were Up $1.87 ½, to finish the day at 228.30. Dec. Class III milk was Up $.34, to settle at 17.23.