Supply & Demand Drives Beef Market

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. The supply and demand dilemma continues to drive the Beef Market as Cattle prices climb higher. 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 1 ¼, to finish at 5-78. May Corn was DN 8 ¼, to finish the day at 4-24 ¼. Kansas City Hard Red Winter Wheat prices for May were Dn 6 ½, to settle at 5-74 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 Unch, ranging 6-25 to 6-65. Hard Red Winter Wheat with 11 ½ percent Protein prices for April were Dn 6 ½, ranging from 6-34 ½ to 6-44 ½. DNS wheat with 14 % protein, prices for April were Dn 4, ranging from 7-36 ½ to 7-51 ½.

Live Cattle for April were Up $.37 ½, closing at 187.70. April Feeder Cattle were Up $.57 ½, to finish the day at 255.92 ½. March Class III milk was Up $.04, to settle at 16.84.