Beef String Together 3 Day Rally

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. Volatility remains relevant in the beef market as cattle finally put together a 3 day rally. 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 16, to finish at 6-25 ½. March Corn was Up 3 ¾, to finish the day at 4-85 ¼. Kansas City Hard Red Winter Wheat prices for March were Up 24 ½, to settle at 6-56 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 Up 10 to Unch, ranging 6-85 to 7-20. Hard Red Winter Wheat with 11 ½ percent Protein prices for Feb. were Up 24 ½, ranging from 7-11 ¾ to 7-26 ¾. DNS wheat with 14 % protein, prices for Feb. were Up 17 ¾, ranging from 8-09 ½ to 8-24 ½.

Live Cattle for Feb. were Up $.70, closing at 168.60. Jan. Feeder Cattle were Up $1.30, to finish the day at 219.25. Jan. Class III milk was Dn $.17, to settle at 16.29.