Beef Markets Settle

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. Traders eagerly await the upcoming “Cattle On Feed Report”, in hopes of some bullish news. Let’s go to Oliver Sloup with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day Dn 5 ¾, to finish at 6-22 ¾. March Corn was Dn 4 ¼, to finish the day at 4-72 ¾. Kansas City Hard Red Winter Wheat prices for March were Up 13 ¾, to settle at 6-41 ½.

Portland prices for Club Wheat with 10 ½ % Protein was 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 Up 13 ¾, ranging from 6-96 ½ to 7-11 ½. DNS wheat with 14 % protein, prices for March were Up 6 ¾, ranging from 8-08 ¼ to 8-23 ¼.

Live Cattle for Feb. were Dn $.85, closing at 168.77 ½. March Feeder Cattle were Dn $.95, to finish the day at 223.20. Jan. Class III milk was Up $.03, to settle at 15.62.