Hesitation Drives Beef Prices Lower

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Wednesday. Hesitation from the packers drove Feeder Cattle prices lower yesterday. 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 13, to finish at 5-51. May Corn was Dn 3 ¾, to finish the day at 4-26 ¼. Kansas City Hard Red Winter Wheat prices for May were Dn 11, to settle at 5-69 ¼.

Portland prices for Club Wheat with 10 ½ % Protein was Dn 10 - 65, ranging from 5-95 to 6-00. Soft white wheat with 10 ½ % Protein prices for May were Dn 10-35, ranging 5-70 to 6-00. Hard Red Winter Wheat with 11 ½ percent Protein prices for May were Dn 11, ranging from 6-34 ¼ to 6-44 ¼. DNS wheat with 14 % protein, prices for May were Dn 4, ranging from 7-45 ½ to 7-50 ½.

Live Cattle for April were Up $1.32 ½, closing at 188.00. April Feeder Cattle were Up $1.42 ½, to finish the day at 257.17 ½. March Class III milk was Dn $.33, to settle at 16.25.