Cattle Hit 12 Month Low

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Friday. The Beef Market continues to slide, hitting prices not seen in over 1 year. Let’s go to Ted Seifried with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day Up 8 ¾, to finish at 6-42 ¼. March Corn was Up 3 ¾, to finish the day at 4-88. Kansas City Hard Red Winter Wheat prices for March were Up 11 ½, to settle at 6-67 ½.

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 6-90 to 7-20. Hard Red Winter Wheat with 11 ½ percent Protein prices for Feb. were Up 11 ½, ranging from 7-22 ½ to 7-27 ½. DNS wheat with 14 % protein, prices for Feb. were Up 6 ¾, ranging from 8-17 ¼ to 8-22 ¼.

Live Cattle for Feb. were Dn $1.02 ½, closing at 162.52 ½. Jan. Feeder Cattle were Up $.12 ½, to finish the day at 210.27 ½. Jan. Class III milk was Dn $.40, to settle at 16.59.