Volatility Pursues In Beef Market

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. Volatility in the Beef Market continues as Cattle rally to erase the previous days losses. 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 10 ¾, to finish at 6-31 ¼. March Corn was Up 5 to finish the day at 4-90 ½. Kansas City Hard Red Winter Wheat prices for March were Up 5, to settle at 6-62 ¾.

Portland prices for Club Wheat with 10 ½ % Protein were Unch, ranging from 6-95 to 7-40. Soft White Wheat with 10 ½ % Protein prices for Feb. were Unch, ranging from 6-85 to 7-20. Hard Red Winter Wheat with 11 ½ percent Protein prices for Feb. were Up 5, ranging from 7-17 ¾ to 7-22 ¾. DNS wheat with 14 % protein, prices for Feb. were Up 2 ¾, ranging from 8-19 to 8-24.

Live Cattle for Dec. were Dn $1.90, closing at 185.30. Jan. Feeder Cattle were Up $1.27 ½, to finish the day at 252.80. Nov. Class III milk was Up $.44, to settle at 17.83.