Boxed Beef Drives Beef Market

This is Matt Rice with the Ag Information Network and today’s Market Line Report for Thursday. Boxed Beef prices directly reflecting on the Feeder Market as cattle demand slips. Let’s go to Virginia McGathey with the CME Group to hear more.

Chicago Soft Red Winter Wheat prices for May closed the day Dn 20, to finish at 5-31. May Corn was Up 2 ½, to finish the day at 4-28 ¾. Kansas City Hard Red Winter Wheat prices for May were Dn 13, to settle at 5-56 ¼.

Portland prices for Club Wheat with 10 ½ % Protein was Dn 10 & Up 5, ranging from 5-85 to 6-05. Soft white wheat with 10 ½ % Protein prices for May were Dn 10 to Unch, ranging 5-60 to 6-00. Hard Red Winter Wheat with 11 ½ percent Protein prices for May were Dn 13, ranging from 6-21 ¼ to 6-31 ¼. DNS wheat with 14 % protein, prices for May were Dn 10 ¼, ranging from 7-35 ¼ to 7-40 ¼.

Live Cattle for April were Dn $.75, closing at 187.25. April Feeder Cattle were Dn $1.30, to finish the day at 255.87 ½. April Class III milk was Dn $.25, to settle at 16.00.