Packers Hold Off

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. Cattle hit a bit of a hiccup in the beef market as feedlots hold off for better cash prices. 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 6 ½, to finish at 6-00 ¼. March Corn was Up 1 ½, to finish the day at 4-65 ¼. Kansas City Hard Red Winter Wheat prices for March were Dn 7 ½, to settle at 6-21 ½.

Portland prices for Club Wheat with 10 ½ % Protein was Unch, ranging from 7-05 to 7-30. Soft white wheat with 10 ½ % Protein prices for March were Unch, ranging 6-60 to 7-20. Hard Red Winter Wheat with 11 ½ percent Protein prices for March were Dn 7 ½, ranging from 6-81 ½ to 6-86 ½. DNS wheat with 14 % protein, prices for March were Dn 6 ½, ranging from 7-88 ½ to 7-98 ½.

Live Cattle for Feb. were Dn $.07 ½, closing at 171.85. March Feeder Cattle were Up $.57 ½, to finish the day at 227.02 ½. Feb. Class III milk was Dn $.08, to settle at 15.55.