Outside Markets Weigh In On Beef Market

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. Finally the Beef Market cools off as Live and Feeders found resistance in front running contracts. Let’s go to Oliver Sloup with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for May closed the day Up 9 ¾, to finish at 5-52 ½. May Corn was Up 3 ½, to finish the day at 4-39 ½. Kansas City Hard Red Winter Wheat prices for May were Up 9, to settle at 5-82 ¾.

Portland prices for Club Wheat with 10 ½ % Protein was Unch, ranging from 5-60 to 5-80. Soft white wheat with 10 ½ % Protein prices for May were Unch, ranging 5-35 to 5-70. Hard Red Winter Wheat with 11 ½ percent Protein prices for May were Up 8 to 9, ranging from 6-45 ½ to 6-62 ¾. DNS wheat with 14 % protein, prices for May were Up 5, ranging from 7-45 ¾ to 7-50 ¾.

Live Cattle for June were Dn $.40, closing at 185.00. May Feeder Cattle were Dn $.20, to finish the day at 258.92 ½. April Class III milk was Up $.13, to settle at 16.29.