Cattle Rally Out The Gate

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. The New Year lights the Beef Market on fire as feeders and Live Cattle POP. 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 21 ¼, to finish at 6-06 ¾. March Corn was Dn 7 ½, to finish the day at 4-63 ¾. Kansas City Hard Red Winter Wheat prices for March were Dn 13, to settle at 6-29.

Portland prices for Club Wheat with 10 ½ % Protein was Unch - Dn 10, ranging from 7-05 to 7-30. Soft white wheat with 10 ½ % Protein prices for March were Dn 10 - Unch, ranging 6-60 to 7-20. Hard Red Winter Wheat with 11 ½ percent Protein prices for March were Dn 13 - 18, ranging from 6-89 to 6-94. DNS wheat with 14 % protein, prices for March were Dn 8 ½ - 13 ½, ranging from 7-95 to 8-05.

Live Cattle for Feb. were Up $3.42 ½, closing at 171.92 ½. March Feeder Cattle were Up $3.35, to finish the day at 226.45. Feb. Class III milk was Dn $.11, to settle at 15.63.