Beef Market Looking For Solid Ground

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Tuesday. The Beef Market continues to look for solid ground as prices slip further into the red. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day Up 17 ¾, to finish at 6-20 ½. March Corn was Up ¾, to finish the day at 4-85 ½. Kansas City Hard Red Winter Wheat prices for March were Up 11, to settle at 6-57 ¾.

Portland prices for Club Wheat with 10 ½ % Protein was Unch, ranging from 6-95 to 7-40. Soft white wheat with 10 ½ % Protein prices for Feb. were Unch, ranging 6-85 to 7-20. Hard Red Winter Wheat with 11 ½ percent Protein prices for Feb. were Up 11, ranging from 7-12 ¾ to 7-17 ¾. DNS wheat with 14 % protein, prices for Feb. were Up 6, ranging from 8-16 ¼ to 8-21 ¼.

Live Cattle for Feb. were Dn $2.05, closing at 167.07 ½. Jan. Feeder Cattle were Dn $3.90, to finish the day at 210.52 ½. Dec. Class III milk was Up $.05, to settle at 16.36.