Outside Markets Weigh On Beef Futures

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. Outside markets add pressure to futures across the board. 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 2 ¼, to finish at 5-97. March Corn was Up ¼, to finish the day at 4-30 ¾. Kansas City Hard Red Winter Wheat prices for May were Dn 4 ¼, to settle at 5-94 ½.

Portland prices for Club Wheat with 10 ½ % Protein was Dn 10 - Unch, ranging from 6-50 to 6-95. Soft white wheat with 10 ½ % Protein prices for April were Unch, ranging 6-40 to 6-65. Hard Red Winter Wheat with 11 ½ percent Protein prices for April were Dn 4 ½, ranging from 6-52 ¼ to 6-62 ¼. DNS wheat with 14 % protein, prices for April were Dn 8 ¼, ranging from 7-47 ¾ to 7-62 ¾.

Live Cattle for April were Dn $.82 ½, closing at 185.10. March Feeder Cattle were Dn $.82 ½, to finish the day at 248.00. March Class III milk was Up $.17, to settle at 17.43.