Beef Market Rallies $10 In Previous 2 Trading Days

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. Feeder Cattle continue to rebound, up $10 in the last 2 trading days. Let’s go to Oliver Sloup with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day Up 13 ¾, to finish at 5-85 ¾. March Corn was Up 2 ¼, to finish the day at 4-75 ¾. Kansas City Hard Red Winter Wheat prices for March were Up 16 ½, to settle at 6-34 ¼.

Portland prices for Club Wheat with 10 ½ % Protein was Unch, ranging from 7-00 to 7-35. Soft white wheat with 10 ½ % Protein prices for Feb. were Unch, ranging 6-80 to 7-30. Hard Red Winter Wheat with 11 ½ percent Protein prices for Feb. were Up 16 ½, ranging from 6-89 ¼ to 6-94 ¼. DNS wheat with 14 % protein, prices for Feb. were Up 12, ranging from 7-95 ¼ to 8-10 ¼.

Live Cattle for Feb. were Up $.65, closing at 173.47 ½. Jan. Feeder Cattle were Up $1.15, to finish the day at 222.20. Dec. Class III milk was Dn $.11, to settle at 16.11.