Feeder Cattle Softer With Feed Costs On The Rise
Thursday Jan 7th, 2021 This is Matt Rice with today’s Market Line Report for Thursday. Cattle trading softer yesterday, higher feed cost seems to be one of the bigger hurdles currently for the beef market. Here’s Virginia McGathey with the CME Group to explain more.
McGathey “ .”
Chicago Soft Red Winter Wheat prices for March closed the day dn 6 ½, to finish at 647 ½. March Corn was up 3 ¼, to close at 495. Kansas City Hard Red Winter Wheat prices for March. were dn 5 ¾, to settle at 603 ½.
Portland prices for Ordinary Club Wheat was Unch, ranging from 6-60 to 6-93. Portland Hard Red Winter Wheat with 11 ½ percent Protein, for March were dn 5 ¾, ranging from 7-38 ½ to 7-68 ½. Soft white wheat of Ordinary Protein for March was Unch, ranging from 6-40 to 6-85. DNS wheat with 14 % protein, prices for March were dn 1, ranging from 7-31 ¼ to 7-36 ¼.
Cattle Finish 2020 In The Green
Friday Jan 1st, 2021 Happy New Year! This is Matt Rice with today’s Market Line Report for Friday. Out with the bad and in with the good! Cattle grasping for any tail out support to finish the last trading day in 2020 as prices shifted higher to end the year. Virginia McGathey with the CME Group explains more.
McGathey “ .”
Chicago Soft Red Winter Wheat prices for March closed the day Dn ¼, to finish at 640 ½. March Corn up 9 ½, to close at 484. Kansas City Hard Red Winter Wheat prices for March. were up 2 ¼, to settle at 603 ½.
Portland prices for Ordinary Club Wheat was Unch, ranging from 6-40 to 6-75. Portland Hard Red Winter Wheat with 11 ½ percent Protein, for March were up 2 ¼, ranging from 7-48 ½ to 7-68 ½. Soft white wheat of Ordinary Protein for March was Unch, ranging from 6-40 to 6-70. DNS wheat with 14 % protein, prices for March were up 3, ranging from 7-24 ¼ to 7-34 ¼.
Optimism In Beef
McGathey “ .”
Chicago Soft Red Winter Wheat prices for March closed the day up 3, to finish at 611 ¼. March. Corn up 2 ½, to close at 440. Kansas City Hard Red Winter Wheat prices for March. were up 5 ¼, to settle at 574 ½.
Portland prices for Ordinary Club Wheat was Unch, ranging from 6-40 to 6-75. Portland Hard Red Winter Wheat with 11 ½ percent Protein, for March were up 5 ¼, ranging from 7-19 ½ to 7-39 ½. Soft white wheat of Ordinary Protein for March was Unch, ranging from 6-50 to 6-70. DNS wheat with 14 % protein, prices for March were up 1 ¾, ranging from 6-95 ¼ to 7-05 ¼.
Live Cattle for Feb. were dn $.20, closing at 114.65. March Feeder cattle were up $.82 ½, to finish the day at 143.12 ½. Feb. Class III milk was up $.01, at 16.45.
Wheat Rally Wiped Out This is Matt Rice with today’s Market Line Report for Tuesday. Most of the gains we saw last week in the Wheat market were wiped out with yesterday’s retreat, but overall still in good shape. Virginia McGathey with the CME Group, shares her input on the Wheat Market.
McGathey “ .”
Chicago Soft Red Winter Wheat prices for May. closed the day dn 18, to finish at 596 ½. March. Corn up ½, to close at 424. Kansas City Hard Red Winter Wheat prices for March. were dn 19, to settle at 562 ¼.
Portland prices for Ordinary Club Wheat was up Unch, ranging from 6-40 to 6-75. Portland Hard Red Winter Wheat with 11 ½ percent Protein, for March were dn 19, ranging from 7-07 ¼ to 7-27 ¼. Soft white wheat of Ordinary Protein for March ended the day Unch, ranging from 6-33 to 6-75. DNS wheat with 14 % protein, prices for March were up 12 ½, ranging from 6-72 ½ to 6-92 ½.