Rally In The Beef Market

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Monday. Live & Feeder Cattle futures reached gains not seen since Oct. of 2023. 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 8 ¼, to finish at 5-59. May Corn was Dn ¼, to finish the day at 4-29 ½. Kansas City Hard Red Winter Wheat prices for May were Dn 8 ½, to settle at 5-61 ½.

Portland prices for Club Wheat with 10 ½ % Protein was Unch, ranging from 6-50 to 6-95. Soft white wheat with 10 ½ % Protein prices for April were Dn 05 - Unch, ranging 6-25 to 6-65. Hard Red Winter Wheat with 11 ½ percent Protein prices for April were Dn 8 ½, ranging from 6-21 ½ to 6-31 ½. DNS wheat with 14 % protein, prices for April were Dn 3 ¼, ranging from 7-30 ½ to 7-45 ½.

Live Cattle for April were Up $1.95, closing at 187.55. March Feeder Cattle were Up $3.92 ½, to finish the day at 251.02 ½. March Class III milk was Up $.04, to settle at 16.84.