Beef Markets Pause, Following Recent Highs

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Tuesday. Live and Feeder Cattle took a bit of pause yesterday, but overall the market still looks promising. 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 9 ½, to finish at 5-90 ¼. March Corn was Unch, to finish the day at 4-42 ¾. Kansas City Hard Red Winter Wheat prices for March were Dn 11, to settle at 6-14.

Portland prices for Club Wheat with 10 ½ % Protein was Unch, ranging from 6-60 to 7-00. Soft white wheat with 10 ½ % Protein prices for April were Unch, ranging 6-45 to 6-65. Hard Red Winter Wheat with 11 ½ percent Protein prices for April were Dn 10, ranging from 6-72 ¾ to 6-82 ¾. DNS wheat with 14 % protein, prices for April were Dn 8 ¼, ranging from 7-68 ½ to 7-83 ½.

Live Cattle for April were Dn $1.40, closing at 182.35. March Feeder Cattle were Dn $2.05, to finish the day at 242.75. March Class III milk was Up $.39, to settle at 17.77.