Cattle Up Big Yesterday

This is Matt Rice with the Market Line Report for Tuesday, Aug. 2nd. The nation's cattle inventory could be on track to grow by nearly 700,000 head by the end of 2016, according to CattleFax Senior Analyst Kevin Good. Jack Scoville extends his thoughts on the Bullish cattle market from the floor of the CME in Chicago with the USDA.

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Chicago Sept. Wheat prices closed yesterday up 1 ½, at 409 ¼. Sept. corn ended the day dn 7 ¾, at 326 ¾. Portland prices for soft white wheat of Ordinary Protein for Aug. New Crop ended the day dn 20 to 26, ranging from 4-76 to 4-90. Hard Red Winter wheat with 11 ½ % protein, prices for Aug. New Crop were dn ½, ranging from 4-79 ¼ to 5-09 ¼. DNS wheat with 14 % protein, prices for Aug. NC had a mixed market up 6 ½ and dn 3 ¼, ranging from 5-69 ¾ to 5-94 ¾. Aug Live Cattle were up $2.85, at 116 even. Aug Feeder cattle up $4.50 to close the day at 144.55. Aug. class III milk was up 3 cents at 16-87.