Feeders Searching For Demand

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Friday. Bearish vibes continue to spread across the Beef Market, however prices only a few dollars off Dec. lows. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for March closed the day Up 8 ½, to finish at 6-31 ½. March Corn was Dn 2 ¼, to finish the day at 4-74 ¼. Kansas City Hard Red Winter Wheat prices for March were Dn 8 ¾, to settle at 6-43 ¾.

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 Dn 10-Unch, ranging 6-70 to 7-20. Hard Red Winter Wheat with 11 ½ percent Protein prices for March were Up 8 ¾, ranging from 7-03 ¾ to 7-13 ¾. DNS wheat with 14 % protein, prices for March were Up 3 ¾, ranging from 8-05 ½ to 8-20 ½.

Live Cattle for Feb. were Dn $.35, closing at 168.92 ½. March Feeder Cattle were Dn $2.27 ½, to finish the day at 223.12 ½. Feb. Class III milk was Dn $.20, to settle at 15.69.