Feeder's Ignite Beef Market

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Tuesday. Feeder Cattle rally the troops, sparking life across the beef market. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day Dn 12 ¼, to finish at 6-17. March Corn was Dn 6, to finish the day at 4-77. Kansas City Hard Red Winter Wheat prices for March were Dn 15, to settle at 6-27 ¾.

Portland prices for Club Wheat with 10 ½ % Protein was Up 10-Unch, ranging from 7-05 to 7-40. Soft white wheat with 10 ½ % Protein prices for March were Unch, ranging 6-80 to 7-20. Hard Red Winter Wheat with 11 ½ percent Protein prices for March were Dn 15, ranging from 6-82 ¾ to 6-97 ¾. DNS wheat with 14 % protein, prices for March were Dn 9 ¼, ranging from 8-01 ½ to 8-16 ½.

Live Cattle for Feb. were Up $.27 ½, closing at 169.62 ½. March Feeder Cattle were Up $1.97 ½, to finish the day at 224.15. Jan. Class III milk was Dn $.34, to settle at 15.90.